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The Smoothing of Official Interest Rates

In: Monetary Policy and Inflation Targeting

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Author Info
Philip Lowe (Reserve Bank of Australia)
Luci Ellis (Reserve Bank of Australia)
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This chapter was published in: Philip Lowe (ed.) Monetary Policy and Inflation Targeting, Reserve Bank of Australia, pages , 1997.

This item is provided by Reserve Bank of Australia in its series RBA Annual Conference Volume with number acv1997-18.

Handle: RePEc:rba:rbaacv:acv1997-18

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Related research
Keywords: interest rate smoothing; Taylor rules; optimal monetary policy;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Pierluigi Balduzzi & Giuseppe Bertola & Silverio Foresi, 1993. "A Model of Target Changes and the Term Structure of Interest Rates," NBER Working Papers 4347, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. N. Gregory Mankiw & Jeffrey A. Miron, 1991. "Should The Fed Smooth Interest Rates? The Case of Seasonal Monetary Policy," NBER Working Papers 3388, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Stephen G. Cecchetti, 1996. "Practical issues in monetary policy targeting," Economic Review, Federal Reserve Bank of Cleveland, issue Q I, pages 2-15. [Downloadable!]
  4. Richard Clarida & Mark Gertler, 1996. "How the Bundesbank Conducts Monetary Policy," NBER Working Papers 5581, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  5. Bennett T. McCallum, 1994. "Monetary Policy and the Term Structure of Interest Rates," NBER Working Papers 4938, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  6. McCallum, Bennett T., 1994. "A reconsideration of the uncovered interest parity relationship," Journal of Monetary Economics, Elsevier, vol. 33(1), pages 105-132, February. [Downloadable!] (restricted)
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  7. Mankiw, N. Gregory, 1987. "The optimal collection of seigniorage : Theory and evidence," Journal of Monetary Economics, Elsevier, vol. 20(2), pages 327-341, September. [Downloadable!] (restricted)
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  8. Andrew B. Abel & Avinash K. Dixit & Janice C. Eberly & Robert S. Pindyck, 1996. "Options, the Value of Capital, and Investment," NBER Working Papers 5227, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  9. Poole, William, 1991. "Interest rates and the conduct of monetary policy : A comment," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 34(1), pages 31-39, January. [Downloadable!] (restricted)
  10. Barro, Robert J., 1989. "Interest-rate targeting," Journal of Monetary Economics, Elsevier, vol. 23(1), pages 3-30, January. [Downloadable!] (restricted)
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Carlos Montoro, 2007. "Monetary Policy Committees and Interest Rate Smoothing," CEP Discussion Papers dp0780, Centre for Economic Performance, LSE. [Downloadable!]
  2. Glenn D. Rudebusch, 2005. "Monetary policy inertia: fact or fiction?," Working Papers in Applied Economic Theory 2005-19, Federal Reserve Bank of San Francisco. [Downloadable!]
    Other versions:
  3. Cinzia Alcidi & Alessandro Flamini & Andrea Fracasso, 2005. ""Taylored" rules. Does one fit (or hide) all?," HEI Working Papers 04-2005, Economics Section, The Graduate Institute of International Studies, revised Apr 2006. [Downloadable!]
  4. Guy Debelle & Jenny Wilkinson, 2001. "Inflation Targeting and the Inflation Process: Lessons from an Open Economy," Working Papers Central Bank of Chile 111, Central Bank of Chile. [Downloadable!]
  5. Carlos Montoro, 2007. "Why Central Banks Smooth Interest Rates? A Political Economy Explanation," Working Papers 2007-003, Banco Central de Reserva del PerĂº. [Downloadable!]
  6. Laurence Ball, 2000. "Policy Rules and External Shocks," Working Papers Central Bank of Chile 82, Central Bank of Chile. [Downloadable!]
    Other versions:
  7. Petra Gerlach-Kristen, 2004. "Interest-Rate Smoothing: Monetary Policy Inertia or Unobserved Variables?," Contributions to Macroeconomics, Berkeley Electronic Press, vol. 4(1), pages 1169-1169. [Downloadable!] (restricted)
  8. Andrew Levin & Volker Wieland & John C. Williams, 1998. "Robustness of simple monetary policy rules under model uncertainty," Finance and Economics Discussion Series 1998-45, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
    Other versions:
  9. Andrew T. Levin & John C. Williams, 2003. "Robust monetary policy with competing reference models," Working Papers in Applied Economic Theory 2003-10, Federal Reserve Bank of San Francisco. [Downloadable!]
    Other versions:
  10. Cinzia Alcidi & Alessandro Flamini & Andrea Fracasso, 2005. "``Taylored'' Rules. Does One Fit All?," Keele Economics Research Papers KERP 2007/06, Centre for Economic Research, Keele University, revised Mar 2007. [Downloadable!]
  11. Gregory Erin Givens, 2009. "Estimating Central Bank Preferences under Commitment and Discretion," Working Papers 200905, Middle Tennessee State University, Department of Economics and Finance. [Downloadable!]
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