Macroeconomic Stability and the Preferences of the Fed: A Formal Analysis, 1961-98
By Carlo A. Favero, R. Rovelli. 2003
209 citations recorded by the source corpus.
Subfields: Economics and Econometrics
View Paper: https://www.semanticscholar.org/paper/effbcf7832044f84b6717edb0c33fcee6f9e3b1f
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In Economics and Econometrics
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Citations in the corpus
- The Monetary Policy of the European Central Bank (2007, unknown): “Following Svensson (1999), the policy rule is modeled as the outcome of an intertemporal optimization problem in which the reaction-function parameters are interpreted as a convolution of the policy makers’ preferences and the parameters of the economy; see Favero and Rovelli (2003). It is thus poss”
- The policy preferences of the US Federal Reserve (2004, unknown): “Favero and Rovelli (2003), on the other hand, assume that the Federal Reserve only looks four quarters ahead, and that these four quarters are discounted with β = 0.975.”
- Changes in the Federal Reserve's Inflation Target: Causes and Consequences (2007, background): “Second, Favero and Rovelli (2003), Surico (2003), and Dennis (2004) estimate smallscale macroeconomic models and detect evidence of a one-time shift in the Federal Reserve’s inflation target occurring coincidentally with the appointment of Paul Volcker as Federal Reserve Chairman in 1979, but these…”
- OIL PRICE SHOCKS, SYSTEMATIC MONETARY POLICY, AND THE “GREAT MODERATION” (2009, background): “…the decline in output volatility to “better policy” contend that a significant change in the monetary policy rule during the Volcker-Greenspan period was the main source of this dramatic change in economic outcomes [Clarida et al. (2000); Boivin and Giannoni (2006); Favero and Rovelli (2003)].”
- Time Varying Structural Vector Autoregressions and Monetary Policy (2005, unknown): “…work has emphasized the role of monetary policy in the poor economic performance of the 1970’s (see, among others,Judd and Rudebusch(1998), Clarida et al. (2000), Boivin (2001), Cogley and Sargent(2001, 2003), Boivin and Giannoni (2003), Favero and Rovelli(2003), Lubik and Schorfheide(2004)).”