Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/11685
Registo completo
Campo DC | Valor | Idioma |
---|---|---|
dc.contributor.author | Gabriel, Vasco J. | - |
dc.contributor.author | Levine, Paul | - |
dc.contributor.author | Spencer, Christopher | - |
dc.date.accessioned | 2011-02-08T11:22:38Z | - |
dc.date.available | 2011-02-08T11:22:38Z | - |
dc.date.issued | 2008 | - |
dc.identifier.citation | “NIPE - Working Paper Series”. 9 (2008) 1-10. | por |
dc.identifier.uri | https://hdl.handle.net/1822/11685 | - |
dc.description.abstract | We estimate an alternative type of monetary policy rule, termed Calvo rule, according to which the central bank is assumed to target a discounted infinite sum of future expected inflation. Compared to conventional inflation forecast-based rules, which are typically of the Taylor-type with discrete forward looking horizons, this class of rule is less prone to the problem of indeterminacy. Parameter estimates obtained from GMM estimation provide support for Calvo-type rules, suggesting that the Federal Reserve targeted a mean forward horizon of between 4 and 8 quarters. | por |
dc.description.sponsorship | ESRC - RES-061-25-0115. | por |
dc.language.iso | eng | por |
dc.publisher | Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE) | por |
dc.rights | openAccess | por |
dc.subject | Calvo-type interest rules | por |
dc.subject | Inflation forecast based rules | por |
dc.subject | GMM | por |
dc.subject | Indeterminacy | por |
dc.title | How forward-looking is the fed? Direct estimates from a ‘Calvo-type’ rule | por |
dc.type | workingPaper | por |
dc.peerreviewed | no | por |
Aparece nas coleções: | NIPE - Documentos de Trabalho |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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NIPE_WP_9_2008.pdf | Documento principal | 379,24 kB | Adobe PDF | Ver/Abrir |