Stop‐go monetary policy

We propose and estimate several discrete choice models of monetary policy decision-making that feature time-varying inertia. The models permit us to account for three stylized facts characterizing monetary policymaking in the United States: (1) target interest rates are gradually adjusted in small d...

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Bibliographic Details
Main Authors: Henry W. Chappell, Mark N. Harris, Rob Roy McGregor, Christopher Spencer
Format: Default Article
Published: 2019
Subjects:
Other economics not elsewhere classified
Monetary policy inertia
Central banking
Ordered probit
Zero lower bound
Economics
Economics not elsewhere classified
Online Access:https://hdl.handle.net/2134/37646
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https://hdl.handle.net/2134/37646

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