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Optimal Control of the Money Supply / Robert B. Litterman.
- Format:
- Book
- Author/Creator:
- Litterman, Robert B.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w0912.
- NBER working paper series no. w0912
- Language:
- English
- Subjects (All):
- Federal Reserve banks.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1982.
- Cambridge, Mass. : National Bureau of Economic Research, 1982.
- Summary:
- 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.
- Notes:
- Print version record
- June 1982.
- Includes bibliographical references.
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