| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5055407 | Economic Modelling | 2011 | 15 Pages |
Abstract
⺠Markov switching model of the US economy and of the Federal Reserve. ⺠Optimal monetary policy compared to empirical reaction function. ⺠Better fit for Markov switching model than for deterministic model. ⺠Discussion about preferences of the Fed. on the states of the economy. ⺠Best fit to the actual interest rates obtained by an optimal policy with preference switches.
Related Topics
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Economics and Econometrics
Authors
S. Pardo, N. Rautureau, T. Vallée,