Theoretical conditions under which monetary policies are effective and practical obstacles to their verification
We derive (i) necessary and sufficient and (ii) sufficient conditions for monetary policies to conform to what the literature characterizes as good policies. We show that the biasing effects of omitted variables, measurement errors, and misspecifications of “true” functional forms on the coefficients of monetary-policy reaction functions present practical obstacles to verifying such conditions. Copyright Springer-Verlag Berlin/Heidelberg 2005
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 25 (2005)
Issue (Month): 4 (06)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/economic+theory/journal/199/PS2|