| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22693 |
| 来源ID | Working Paper 22693 |
| The Evolution of U.S. Monetary Policy: 2000 - 2007 | |
| Michael T. Belongia; Peter N. Ireland | |
| 发表日期 | 2016-10-03 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | 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 U.S. 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. Under this more discretionary policy, inflation overshot its target and the funds rate followed a path reminiscent of the "stop-go" pattern that characterized Fed behavior prior to 1979. |
| 主题 | Econometrics ; Estimation Methods ; Macroeconomics ; Business Cycles ; Monetary Policy |
| URL | https://www.nber.org/papers/w22693 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580366 |
| 推荐引用方式 GB/T 7714 | Michael T. Belongia,Peter N. Ireland. The Evolution of U.S. Monetary Policy: 2000 - 2007. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22693.pdf（1448KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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