Speed Limit Policies and Interest Rate Smoothing

James Yetman

Economics Bulletin, 2004, vol. 5, issue 17, 1-6

Abstract: Walsh (2003) argued that U.S. monetary policy can be described as following a "speed limit" policy. Here I show that this provides an explanation for the apparent interest rate smoothing present in central bank policy.

Keywords: Interest; Rate; Smoothing (search for similar items in EconPapers)
JEL-codes: E5 (search for similar items in EconPapers)
Date: 2004-10-28
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