Nonlinear monetary policy rules: Some new evidence for the U.S.

Studies in Nonlinear Dynamics and Econometrics

Volumn 8, Issue 3, 2004, Pages

  Dolado, Juan ^a   Pedrero, Ramón María Dolores ^b   Ruge Murcia, Francisco J ^c  

^a UNIVERSIDAD CARLOS III DE MADRID   (Spain)

^b UNIVERSITY OF MURCIA   (Spain)

^c UNIVERSITÉ DE MONTRÉAL   (Canada)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 14944379008     PISSN: 15583708     EISSN: 10811826     Source Type: Journal    
DOI: 10.2202/1558-3708.1155     Document Type: Article

References (23)

1. Alvarez-Lois, P. (2001): "Asymmetries in the Capacity-Inflation Trade-Off" Universidad Autonoma de Barcelona, Mimeo.
2. Bee, F., M. B. Salem, and F. Collard (2002): "Asymmetries in Monetary Policy Reaction Functions: Evidence for the U.S., French and German Central Banks," Studies in Nonlinear Dynamics and Econometrics, 6, No. 2, Article 3.
3. Blinder, A. S. (1998), Central Banking in Theory and Practice. Cambridge: The MIT Press.
4. Clarida, R., J. Gali, and M. Gertler (1997): "Monetary Policy Rules in Practice: Some International Evidence," European Economic Review, 42, 1033-1067.
5. -, -, and -(1999): "The Science of Monetary Policy: A New Keynesian Perspective," Journal of Economic Literature, 37, 1661-1707.
6. -, -, and -(2000): "Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory," Quarterly Journal of Economics, 115, 147-180.
7. Clark, P., D. Laxton, and D. Rose (1995): "Capacity Constraints, Inflation and the Transmission Mechanism: Forward-Looking versus Myopic Policy Rules", IMF Working Paper 95-75.
8. Cukierman, A. (2000): "The Inflation Bias Result Revisited," Tel-Aviv University, Mimeo.
9. Dolado, J. J., R. María-Dolores, and M. Naveira (2003): "Are Monetary Policy Functions Asymmetric?: The Role of the Nonlinearity of the Phillips Curve," European Economic Review, forthcoming.
10. Gerlach, S. (2000): "Asymmetric Policy Reactions and Inflation," Bank for International Settlements, Mimeo.
11. Gordon, R. J. (1997): "The Time-Varying NAIRU and its Implications for Economic Policy," Journal of Economic Perspectives, 11, 11-32.
12. Koop, G., M. H. Pesaran, and S. M. Potter (1996), "Impulse Response Analysis in Nonlinear Multivariate Models," Journal of Econometrics, 74, 119-147.
13. Layard, R., S. Nickell, and R. Jackman (1991), Unemployment. Oxford: Oxford University Press.
14. Nobay, R. A., and D. A. Peel (1998): "Optimal Monetary Policy in a Model of Asymmetric Central Bank Preferences," London School of Economics, Mimeo.
15. Orphanides, A. (2001): "Monetary Rules Based on Real-Time Data," American Economic Review, 91, 964-985
16. Pagan, A. (1984): "Econometric Issues in the Analysis of Regressions with Generated Regressors," International Economic Review, 25, 221-247.
17. -, and A. Ullah (1988): "The Econometric Analysis of Models with Risk Terms," Journal of Applied Econometrics, 3, 87-105.
18. Ruge-Murcia, F. J. (2002): "A Prudent Central Banker," IMF Staff Papers, 49, 456-469.
19. -(2004): "The Inflation Bias when the Central Banker Targets the Natural Rate of Unemployment," European Economic Review, 48, 91-107.
20. Schaling, E. (1999): "The Nonlinear Phillips Curve and Inflation Forecast Targeting," Bank of England Working Paper No. 98.
21. Svensson, L. E. O. (1997): "Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets," European Economic Review, 41, 1111-1146.
22. -(2003): "What is Wrong with Taylor Rules?: Using Judgement in Monetary Policy through Targeting Rules," Journal of Economic Literature, 41, 426-477.
23. Varian, H. (1974): "A Bayesian Approach to Real Estate Assessment," in S. E. Feinberg and A Zellner, eds., . Studies in Bayesian Economics in Honour of L. J. Savage, Amsterdam: North-Holland, 195-208.