Estimated Interest Rate Rules: Do they Determine Determinacy Properties?

Research output: Contribution to journalJournal articleResearchpeer-review

I demonstrate that econometric estimations of nominal interest rate rules may tell little, if anything, about an economy's determinacy properties. In particular, correct inference about the interest-rate response to inflation provides no information about determinacy. Instead, it could reveal whether optimal monetary policymaking is performed under discretion or commitment.
Original languageEnglish
JournalB.E. Journal of Macroeconomics
Issue number1 (Contributions), Article 11
Pages (from-to)1-20
Number of pages20
Publication statusPublished - 2011

ID: 33344881