Working Paper

Non-nested specification tests and the intermediate target for monetary policy

Abstract: An examination of a procedure for comparing non-nested models to the problem of choosing an intermediate target for monetary policy. Six models of economic activity, based on six different monetary aggregates, are compared.

Keywords: Monetary policy; Money supply;

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Working Papers (Old Series)

Publication Date: 1983

Number: 8301