Monetary policy regime shifts: new evidence from time-varying interest rate rules.

We estimate forward-looking interest rate rules for five large Organization for Economic Cooperation and Development economies, allowing for time variation in the responses to macroeconomic conditions and in the variance of the policy rate. Conventional constant parameter reaction functions likely b...

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Bibliographic Details

Published in:	Economic Inquiry Vol. 48; no. 4; pp. 933 - 951
Main Authors:	Trecroci, Carmine, Vassalli, Matilde
Format:	Article
Published:	Wiley-Blackwell October 2010
Subjects:	Mathematical models of interest rates Monetary policy OECD countries
Online Access:	View this record in EBSCOhost