Capacity constraints, inflation and the transmission mechanism : forward-looking versus myopic policy rules /
This paper develops a small model of the output-inflation process in the United States in order to examine the implications of alternative monetary policy rules. In particular, two types of policy rules are considered; a myopic rule where interest rates respond contemporaneously to output and inflat...
| Main Authors: | , , , |
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| Other Authors: | |
| Format: | Book |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
1995
Washington, D.C. : 1995 |
| Series: | IMF Working Papers ;
Working Paper No. 95/75 IMF eLibrary IMF working paper ; 95/75 |
| Subjects: |