NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Monetary Information and Interest Rates

Carl E. Walsh

NBER Working Paper No. 1589
Issued in March 1985
NBER Program(s):   ME

A model of interest rate movements in response to new information on the money stock is developed.The model, which incorporates several earlier approaches as special cases, makes explicit the manner in which estimated interest rate responses to money surprises depend on the relative variances of nominal and real disturbances, as well as on the monetary authority's policy and the credibility of that policy.

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Document Object Identifier (DOI): 10.3386/w1589

 
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