Technology Shocks and Monetary Policy: Assessing the Fed's Performance

The purpose of the present Paper is twofold. First, we characterize the Fed's systematic response to technology shocks and its implications for US output, hours and inflation. Second we evaluate the extent to which those responses can be accounted for by a simple monetary policy rule (including the optimal one) in the context of a standard business cycle model with sticky prices.

• Use cases, geography and tags
• Organizations that created, adopted or are mentioned
• Ecosystem position
• Link to the original asset
• Comments and reactions