Simulating the OECD INTERLINK Model under Alternative Monetary Policy Rules [electronic resource] /
Pete Richardson
- Paris : OECD Publishing, 1990.
- 71 p. ; 21 x 29.7cm.
- OECD Economics Department Working Papers, no.85 18151973 ; .
- OECD Economics Department Working Papers, no.85. .
This paper reviews the influence of a variety of different monetary rules for the G3 economies on the comparative simulation properties of a recent version of the OECD INTERLINK model. The simulated shocks are typically of a "global" nature, with the main objective being to assess the relative effectiveness of alternative monetary policy settings in achieving a stable set of outcomes for main macroeconomic aggregates at the global level. Since the relative performance of different policies seems likely to depend on both the nature of the shocks and specific structural features of the model used, it also examines the extent to which these results are likely to be empirically fragile ...