Monetary policy inertia reconsidered: Evidence from endogenous interest rate trajectory

Jiri Podpiera

Economics Letters, 2008, vol. 100, issue 2, 238-240

Abstract: By finding small forecastable variability of future policy rates by highly smoothed central bank's endogenous interest rate trajectory, I suggest that market's failure to predict large portion of variability in future rates does not always imply limited policy inertia.

Date: 2008
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