Taylor rules, omitted variables, and interest rate smoothing in the US

Efrem Castelnuovo

Macroeconomics from University Library of Munich, Germany

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.

Keywords: Taylor rules; Interest rate smoothing; Serial correlation; Observational equivalence; Omitted variables (search for similar items in EconPapers)
JEL-codes: E4 E5 (search for similar items in EconPapers)
Pages: 5 pages
Date: 2004-03-17
New Economics Papers: this item is included in nep-dev, nep-mac and nep-mon
Note: Type of Document - pdf; pages: 5
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Journal Article: Taylor rules, omitted variables, and interest rate smoothing in the US (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0403009

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