| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5061737 | Economics Letters | 2009 | 4 Pages |
Abstract
We estimate an alternative type of monetary policy rule according to which the central bank targets a discounted infinite sum of expected inflation and output gaps. Empirical results suggest that the Fed has a mean forward horizon of 4 to 8 quarters.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Vasco J. Gabriel, Paul Levine, Christopher Spencer,