Browsing Norges Banks vitenarkiv by Author "Ilbas, Pelin"

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    • Revealing the Preferences of the US Federal Reserve 

      Ilbas, Pelin (Working Papers;21/2008, Working paper, 2008)
      We use Bayesian methods to estimate the preferences of the US Federal Reserve by assuming that monetary policy is performed optimally under commitment since the mid-sixties. For this purpose, we distinguish between three ...

    • Robustifying Optimal Monetary Policy Using Simple Rules as Cross-Checks 

      Ilbas, Pelin; Røisland, Øistein; Sveen, Tommy (Working Papers;22/2012, Working paper, 2012)
      There are two main approaches to modelling monetary policy; simple instrument rules and optimal policy. We propose an alternative that combines the two by extending the loss function with a term penalizing deviations from ...

    • The Influence of the Taylor Rule on US Monetary Policy 

      Ilbas, Pelin; Røisland, Øistein; Sveen, Tommy (Working Papers;4/2013, Working paper, 2013)
      We analyze the influence of the Taylor rule on US monetary policy by estimating the policy preferences of the Fed within a DSGE framework. The policy preferences are represented by a standard loss function, extended with ...