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National Repository of Grey Literature 1 records found  Search took 0.01 seconds. 
Policy rate decisions and unbiased parameter estimation in conventionally estimated monetary policy rules
 Podpiera, Jiří
This paper addresses a potential source of econometric bias that might naturally arise and adversely affect the accuracy of conventionally estimated policy rules as benchmarks. To address this concern, the paper offers a new method for estimating monetary policy rules and demonstrates the ability of the resulting bias-adjusted policy rules to outperform conventionally estimated ones in characterizing the policy environments in the cases of the Czech Republic and the United States.
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