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Series:Proceedings 

Conference Paper
How forward-looking is optimal monetary policy?

We calculate optimal monetary policy rules for several variants of a simple optimizing model of the monetary transmission mechanism with sticky prices and/or wages. We show that robustly optimal rules can be represented by interest-rate feedback rules that generalize the celebrated proposal of Taylor (1993). Optimal rules, however, require that the current interest rate operating target depend positively on the recent past level of the operating target, and its recent rate of increase, in a way that is characteristic of estimated central bank reaction functions, but not of Taylor's proposal.
Proceedings

Conference Paper
The global financial crisis – impact on Asia and policy challenges ahead

Proceedings , Issue Oct , Pages 267-276

Conference Paper
Liquidity and fire sales - discussion

Proceedings

Conference Paper
Structured finance: uses (and abuses) of special purpose entities

Proceedings , Paper 872

Conference Paper
Risk-based capital and bank growth

Proceedings , Paper 404

Conference Paper
Charting a course under free trade (summary of NAFTA conference)

Proceedings

Conference Paper
The theory and practice of school choice

Proceedings , Issue Oct , Pages 37-54

Conference Paper
Macroeconomic implications of changes in micro volatility - discussion

Proceedings , Issue Nov

Conference Paper
On the credit risk of OTC derivative users

Proceedings , Paper 554

Conference Paper
Parameterizing credit risk models rating data: current limits of actuarial approaches

Proceedings , Paper 684

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