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국회도서관 홈으로 정보검색 소장정보 검색

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동의어 포함

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Title page 1

Contents 1

Abstract 2

1. Introduction 3

2. Monetary policy rules 5

3. Data 7

4. Results 8

4.1. Rule parameters 8

4.2. Goodness of fit 9

4.3. Comparison to autoregressive benchmarks 14

4.4. Policy inertia before gradualism 15

5. Robustness 16

5.1. Sample periods 18

5.2. Data construction 18

6. Conclusion 20

References 22

Tables 9

Table 1. Recovered Rule Parameters by Sample 9

Table 2. Model Fit Statistics by Sample 10

Table 3. Recovered Rule Parameters, Pre-1987 Sample 17

Table 4. Model Fit Statistics, Additional Samples 19

Table 5. Model Fit Statistics, Robustness Exercises 21

Figures 11

Figure 1. One-Quarter-Ahead Federal Funds Rate Predictions for Estimated Rules 11

Figure 2. One-Quarter-Ahead Federal Funds Rate Adjustment Predictions for Estimated Rules 12

Figure 3. Year-ahead Federal Funds Rate Predictions for Estimated Rules 16