Transcription of The Evolution of U.S. Monetary Policy: 2000-2007
{{id}} {{{paragraph}}}
THE Evolution OF Monetary POLICY: 2000 2007. Michael T. Belongia Peter N. Ireland Otho Smith Professor of Economics Department of Economics University of Mississippi Boston College Box 1848 140 Commonwealth Avenue University, MS 38677 Chestnut Hill, MA 02467. August 2016. Abstract: A vector autoregression with time-varying parameters is used to characterize changes in Federal Reserve policy that occurred from 2000. through 2007 and describe how they affected the performance of the economy. Declining coefficients in the model's estimated policy rule point to a shift in the Fed's emphasis away from stabilizing inflation over this period. More importantly, however, the Fed held the federal funds rate persistently below the values prescribed by this rule.
THE EVOLUTION OF U.S. MONETARY POLICY: 2000 – 2007 Michael T. Belongia Otho Smith Professor of Economics University of Mississippi Box 1848 University, MS 38677
Domain:
Source:
Link to this page:
Please notify us if you found a problem with this document:
{{id}} {{{paragraph}}}
Longer-Run Goals and Monetary, Longer-Run Goals and Monetary Policy Strategy, Monetary Policy Framework, Monetary Policy, Policy Framework, Mid-term monetary policy statement, Money, fiscal policy, and interest rates, Monetary, Structural Changes in the Transmission, Structural Changes in the Transmission Mechanism of Monetary Policy