Optimal Control of the Money Supply /

Using optimal control theory and a vector autoregressive representation of the relationship between money and interest rates, one can derive a feedback control procedure which defines the best possible tradeoff between interest rate volatility and money supply fluctuations and which could be used to...

Ausführliche Beschreibung

1. Verfasser:

Litterman, Robert B.

Körperschaft:

National Bureau of Economic Research

Format:

Elektronisch E-Book

Sprache:

Englisch

Veröffentlicht:

Cambridge, Mass. National Bureau of Economic Research 1982.
Cambridge, Mass. : National Bureau of Economic Research, 1982.

Zusammenfassung:

Using optimal control theory and a vector autoregressive representation of the relationship between money and interest rates, one can derive a feedback control procedure which defines the best possible tradeoff between interest rate volatility and money supply fluctuations and which could be used to reduce both from their current levels.

Umfang:

1 online resource: illustrations (black and white);

Anmerkungen:

June 1982.

Bibliografie:

Includes bibliographical references.

Schlagworte:

Federal Reserve banks.