By accounting for uncertainty over observed data, a model of a learning Federal Reserve explains the rise and fall in American inflation as tied to a concurrent rise and fall in the perceived Philips curve trade-off. [publication] [draft]
Category: published
Estimating the Market-Perceived Monetary Policy Rule (AEJMacro 2011) w/ Hamilton and Borger
Using macroeconomic news, we directly estimate the policy rule used by the market to link their expectations of future economic conditions to future monetary policy. [publication] [draft]
Seth Pruitt 