Transcription of The Evolution of U.S. Monetary Policy: 2000-2007
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The Evolution of U.S. Monetary Policy: 2000-2007
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
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Monetary Policy Framework, Monetary policy, Policy Framework, OECD, The Timing of Monetary Policy Shocks, Policy, Implications for Exchange Rates, Monetary Policy, and Policy Coordination, MID-TERM MONETARY POLICY STATEMENT, Structural Changes in the Transmission, Money, fiscal policy, and interest rates, Monetary, Monetary Policy Expectations at the Zero, Monetary Policy Operations