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Program codes

Targeting Nominal Income Growth or Inflation? American Economic Review 92 (2002), 928-956.

GAUSS codes used for the paper's simulations (no support is provided on these; please acknowledge if used):

Dloss.e (56 Kb) computes the optimal targeting regimes under discretion (the file contains the baseline configuration, which can easily be amended).
Ploss.e (15 Kb) computes the optimal commitment policy (the file contains the baseline configuration, which can easily be amended).

New working paper

I have uploaded a new working paper (co-authored with Morten Aastrup) on "What Drives the European Central Bank's Interest-Rate Changes?".

New blog site launched

I have started a new blog where I post my stochastic ramblings about economics and economists. Check out "hjeconomics: The Blog".

New publication

My paper "Estimated Interest Rate Rules: Do they Determine Determinacy Properties?" has been published in The B.E. Journal of Macroeconomics (Contributions). It can be accessed at the bepress site.