Learning and monetary policy shifts

This paper estimates a dynamic stochastic equilibrium model in which monetary policy follows a nominal interest rate rule that is subject to regime switches in the target inflation rate. Two specifications are considered: agents know the current state of monetary policy (full information) and agents...

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Veröffentlicht in:	Review of economic dynamics 2005-04, Vol.8 (2), p.392-419
1. Verfasser:	Schorfheide, Frank
Format:	Artikel
Sprache:	eng
Schlagworte:	Applied economics Bayesian analysis Bayesian econometrics Central banks Econometric models Empirical research General economic equilibrium Imperfect information Inflation Interest rates Learning Macroeconomics Monetary DSGE models Monetary policy Stochastic models Stochastic processes Studies U.S.A
Online-Zugang:	Volltext
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