A monetary policy rule based on nominal and inflation-indexed treasury yields
By: Brian Sack.
Series: Finance and economics discussion series ;; 2003-07; Finance and economics discussion series (Online) ;; 2003-07.
Publisher: Federal Reserve Board
Published: 2003
Place of publication: Washington, D.C
Language: eng
Format: Electronic resource
Description: "The yields on nominal and inflation-indexed Treasury debt securities can be used to derive a proxy for the inflation expectations of financial market participants.  This paper finds that one such measure has been an effective predictor of monetary policy decisions by the Federal Reserve since 1999.  This finding suggests that the inflation compensation measure serves as a summary statistic for the factors that drive monetary policy decisions"--Federal Reserve Board web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 7/29/2004.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.