목차
Title page
Contents
EXECUTIVE SUMMARY 1
INTRODUCTION 2
BENEFITS OF RULES-BASED MONETARY POLICY 2
COMPARISON OF FEEDBACK RULE INFORMATION BURDENS 3
STRUCTURAL MACROECONOMIC ANALYSIS 6
CONCLUSION 13
ACKNOWLEDGMENTS 14
APPENDIX 14
Table 1. Dickey-Fuller test critical statistics 4
Table 2. Sum of squared forecast errors, individual metrics 5
Table 3. Sum of squared forecast errors, weighted for inclusion in a feedback rule 6
Table 4. Squared and summed impulse responses by shock source and policy rule 10
Table 5. Standard deviation of key macro variables by policy rule 12
Table A1. Squared and summed impulse responses by shock source and policy rule 14
