Technology Shocks and Monetary policy: Assessing the Fed's Performance

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  • 1 January 2000
    • preprint
      • Published in RePEc
Abstract
The purpose of the present paper is twofold. First, we characterize de Fed's systematic response to technology shocks and its implications for US output, hours and inflation. Second we evaluate the extent to which that responses can be accounted for by a simple monetary policy rule in the context of a standard business cycle model with sticky prices.

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