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Taylor rules, omitted variables, and interest rate smoothing in the US Author info | Abstract | Publisher info | Download info | Related research | Statistics Efrem Castelnuovo (University of Padua)
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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.
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Paper provided by EconWPA in its series Macroeconomics with number
0403009.
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Length: 5 pages
Date of creation: 17 Mar 2004Date of revision:
Handle: RePEc:wpa:wuwpma:0403009Note: Type of Document - pdf; pages: 5Contact details of provider: Web page: http://129.3.20.41
For technical questions regarding this item, or to correct its listing, contact: (EconWPA).
Keywords: Taylor rules ; Interest rate smoothing ; Serial correlation ; Observational equivalence ; Omitted variables ; Other versions of this item:
Find related papers by JEL classification: E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
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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.: Alex Cukierman & Anton Muscatelli, 2001.
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Apel, Mikael & Jansson, Per, 2005.
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Other versions: Cinzia Alcidi & Alessandro Flamini & Andrea Fracasso, 2005.
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