Table 4: t-steps ahead standard deviation of output after a persistent
non
-fundamental shock, V (yt |
s0 = 2), relative to the optimal policy, with
p11 = p22 = 0.5
|
t |
optimal |
TR |
TR+q |
IFB |
IFB+y |
IFB+y+q |
IFB+y+q agg. |
|
1 |
1 |
12.7371 |
11.8506 |
24.1346 |
13.894 |
12.4058 |
12.8685 |
|
2 |
1 |
8.4769 |
7.9536 |
13.9838 |
10.1253 |
9.1209 |
9.4247 |
|
3 |
1 |
6.2174 |
5.8693 |
9.5364 |
7.7958 |
7.0673 |
7.304 |
|
4 |
1 |
4.8223 |
4.5727 |
7.3275 |
6.2326 |
5.6774 |
5.8748 |
|
5 |
1 |
3.8854 |
3.6957 |
6.0335 |
5.1253 |
4.685 |
4.8542 |
|
6 |
1 |
3.2189 |
3.0673 |
5.107 |
4.3071 |
3.9461 |
4.0925 |
|
7 |
1 |
2.723 |
2.5968 |
4.3845 |
3.6805 |
3.3764 |
3.5032 |
|
8 |
1 |
2.3404 |
2.2316 |
3.9043 |
3.186 |
2.9238 |
3.0336 |
|
9 |
1 |
2.036 |
1.9397 |
3.7901 |
2.7852 |
2.5551 |
2.6498 |
|
10 |
1 |
1.7874 |
1.7005 |
4.1034 |
2.4531 |
2.2484 |
2.3296 |
|
11 |
1 |
1.5801 |
1.5004 |
4.7562 |
2.1729 |
1.9888 |
2.0579 |
|
12 |
1 |
1.404 |
1.3304 |
5.5896 |
1.9328 |
1.7658 |
1.8243 |
|
13 |
1 |
1.2524 |
1.1839 |
6.4637 |
1.7244 |
1.5722 |
1.6212 |
|
14 |
1 |
1.1203 |
1.0563 |
7.2744 |
1.542 |
1.4026 |
1.4431 |
|
15 |
1 |
1.0041 |
0.9443 |
7.9442 |
1.3808 |
1.2529 |
1.286 |
|
16 |
1 |
0.9012 |
0.8453 |
8.4152 |
1.2378 |
1.1201 |
1.1468 |
|
17 |
1 |
0.8096 |
0.7573 |
8.6487 |
1.1101 |
1.0019 |
1.0228 |
|
18 |
1 |
0.7276 |
0.6788 |
8.6288 |
0.9959 |
0.8963 |
0.9123 |
|
19 |
1 |
0.6541 |
0.6086 |
8.3729 |
0.8934 |
0.8017 |
0.8135 |
|
20 |
1 |
0.588 |
0.5457 |
7.9487 |
0.8014 |
0.7171 |
0.7252 |
21
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