Article ID Journal Published Year Pages File Type
5062277 Economics Letters 2006 6 Pages PDF
Abstract

The central bank could have asymmetric preferences for interest rate smoothing depending on the direction of the monetary policy's stance. An empirical analysis for the Volcker-Greenspan period strongly supports this possibility for the Federal Reserve.

Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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Asymmetric interest rate smoothing: The Fed approach
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