We test for the presence of interest rate smoothing in forward looking Taylor rules in first differences.We also consider financial and asymmetric preferences indicators.We find that interest rate smoothing is not induced by an omitted variable bias.
Taylor Rules, Omitted Variables, and Interest Rate Smoothing in the US
CASTELNUOVO, EFREM
2003
Abstract
We test for the presence of interest rate smoothing in forward looking Taylor rules in first differences.We also consider financial and asymmetric preferences indicators.We find that interest rate smoothing is not induced by an omitted variable bias.File in questo prodotto:
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