Monetary policy rules and macroeconomic stability: Some new evidence.
I revisit the question of indeterminacy in US monetary policy using limited-information identification-robust methods. I find that the conclusions of Clarida, Galí, and Gernter (2000) that policy was inactive before 1979 are robust, but the evidence over the Volcker-Greenspan periods is inconclusive...
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| Format: | Journal article |
| Language: | English |
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AEA
2010
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