Instrument-Based vs. Target-Based Rules
NBER Working Paper No. 24496
---- Acknowledgments ----
We would like to thank Hassan Afrouzi, John Geanakoplos, Johannes Hörner, Navin Kartik, Narayana Kocherlakota, Jen Jen La'O, George Mailath, Rick Mishkin, Ed Nelson, Larry Samuelson, and Carl Walsh for comments. Jan Knoepfle provided excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.