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Data Revisions, Gradualism, and US Inflation Pressure in Real Time
(Vanderbilt University, 2008)
Uncertainties associated with the informational content of real-time data and the impact of policy initiatives on expectations have been offered as rationales for gradualism in monetary policy. Our objective is to assess ...
Implementing the Friedman Rule by a Government Loan Program: An Overlapping Generations Model
(Vanderbilt University, 2008)
The welfare gains from adopting a zero nominal interest policy depend on the implementation details. Here I argue that implementing the Friedman rule by a government loan program may be better than implementing it by ...