Did asymmetric monetary preferences for the output gap disappear during recent economic times?

Steven Cassou (), Hedieh Shadmani and Jesús V�zquez
Authors registered in the RePEc Author Service: Jesús Vázquez

Applied Economics Letters, 2014, vol. 21, issue 2, 113-117

Abstract: Surico (2007) showed that the Federal Reserve Bank (FED) asymmetric preferences for the output gap disappeared during recent times. We show that this result is sensitive to the starting date chosen for the regressions. Using a starting date of 1984:01 or later, we find that the hypothesis of the FED exhibiting symmetric preferences is consistently rejected.

Date: 2014
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DOI: 10.1080/13504851.2013.842631

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