Blar i Norges Banks vitenarkiv på forfatter "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 ...