Optimal Interest-Rate Rules in a Forward-Looking Model, and Inflation Stabilization versus Price-Level Stabilization
NBER Working Paper No. 15986
---- Acknowledgements ----
This is a substantially revised version of chapter 1 of my Ph.D. dissertation. I wish to thank Jean Boivin, Bruce Preston and Michael Woodford for very valuable discussions. I am grateful to the NSF for financial support under the grant SES-0518770. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.