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- W27403772 abstract "This paper analyses various simple interest rate rules using a vector error correction forecasting model of the Canadian economy that is anchored by long-run equilibrium relationships suggested by economic theory. Dynamic and stochastic simulations are performed using several interest rate rules, including money based rules and their properties are analysed. Among the class of rules we consider in this model, we find that a simple rule with interest rate smoothing minimizes the volatility of output, inflation and interest rate. This rule dominates Taylor-type, Ball and other simple rules." @default.
- W27403772 created "2016-06-24" @default.
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- W27403772 date "2001-01-01" @default.
- W27403772 modified "2023-09-27" @default.
- W27403772 title "Simple Rules in the M1-VECM *" @default.
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