What if the Fed Had Been an Inflation Nutter?

7 Pages Posted: 3 Jun 2009 Last revised: 11 Jun 2013

Date Written: December 18, 2003

Abstract

A structural rational expectations model of U.S. monetary policy is used to make a counterfactual experiment of a strongly inflation averse Federal Reserve Bank. Results for U.S. interest rates, output, and inflation over 1965-1999 are discussed.

Keywords: optimal monetary policy, rational expectations, Kalman filter

JEL Classification: E31, E43, E52

Suggested Citation

Söderlind, Paul, What if the Fed Had Been an Inflation Nutter? (December 18, 2003). Applied Economics, Vol. 36, pp. 1471-1473, 2004, Available at SSRN: https://ssrn.com/abstract=1413577

Paul Söderlind (Contact Author)

University of St. Gallen ( email )

Rosenbergstrasse 52
St. Gallen, 9000
Switzerland
+41 71 224 7064 (Phone)
+41 71 224 7088 (Fax)

HOME PAGE: http://https://sites.google.com/site/paulsoderlindecon/home

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