Euler equations and money market interest rates: A challenge for monetary policy models

Standard macroeconomic models equate the money market rate targeted by the central bank with the interest rate implied by a consumption Euler equation. We use U.S. data to calculate the interest rates implied by Euler equations derived from a number of specifications of household preferences. Correl...

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Bibliographic details
Volume: 54
Main Author: Canzoneri, Matthew B
Cumby, Robert E
Diba, Behzad T
Format: Journal Article
Language: English
Place of publication: AMSTERDAM Elsevier B.V 2007
ELSEVIER
Elsevier
published in: Journal of monetary economics Vol. 54; no. 7; pp. 1863 - 1881
Data of publication: 2007
ISSN: 0304-3932
1873-1295
EISSN: 1873-1295
Discipline: Economics
Business
Series: Journal of Monetary Economics
Subjects:
E52
E44
E10
E43
Online Access: available in Bonn?
Database: Web of Knowledge
Social Sciences Citation Index
Web of Science
Web of Science - Social Sciences Citation Index - 2007
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RePEc
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