Estimated Interest Rate Rules: Do they Determine Determinacy Properties?

Publikation: Bidrag til tidsskriftTidsskriftartikel

I demonstrate that econometric estimations of nominal interest rate rules may tell little, if anything, about an economy's determinacy properties. In particular, correct inference about the interest-rate response to inflation provides no information about determinacy. Instead, it could reveal whether optimal monetary policymaking is performed under discretion or commitment.
OriginalsprogEngelsk
TidsskriftB.E. Journal of Macroeconomics
Vol/bind11
Udgave nummer1 (Contributions), Article 11
Sider (fra-til)1-20
Antal sider20
ISSN1935-1690
DOI
StatusUdgivet - 2011

ID: 33344881