Table 5: t-steps ahead standard deviation of the real interest rate 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 |
0.7954 |
0.818 |
0.0869 |
0.8566 |
0.8811 |
0.886 |
|
2 |
1 |
0.7425 |
0.7667 |
0.0958 |
0.7459 |
0.7809 |
0.7866 |
|
3 |
1 |
0.7109 |
0.736 |
0.1335 |
0.6826 |
0.7233 |
0.7293 |
|
4 |
1 |
0.6901 |
0.7156 |
0.1956 |
0.6416 |
0.6856 |
0.6916 |
|
5 |
1 |
0.6765 |
0.7022 |
0.278 |
0.6147 |
0.6604 |
0.6666 |
|
6 |
1 |
0.6684 |
0.6941 |
0.3758 |
0.5982 |
0.6446 |
0.6512 |
|
7 |
1 |
0.6647 |
0.6901 |
0.4836 |
0.59 |
0.6361 |
0.6433 |
|
8 |
1 |
0.6642 |
0.6895 |
0.5942 |
0.5884 |
0.6336 |
0.6418 |
|
9 |
1 |
0.6663 |
0.6913 |
0.6997 |
0.5918 |
0.6358 |
0.6453 |
|
10 |
1 |
0.6701 |
0.6949 |
0.7913 |
0.599 |
0.6417 |
0.6528 |
|
11 |
1 |
0.675 |
0.6997 |
0.8618 |
0.609 |
0.6504 |
0.6635 |
|
12 |
1 |
0.6805 |
0.7052 |
0.9094 |
0.6208 |
0.661 |
0.6765 |
|
13 |
1 |
0.686 |
0.7108 |
0.9462 |
0.6336 |
0.6727 |
0.691 |
|
14 |
1 |
0.6909 |
0.716 |
1.0118 |
0.6466 |
0.685 |
0.7062 |
|
15 |
1 |
0.6949 |
0.7203 |
1.1784 |
0.659 |
0.6969 |
0.7215 |
|
16 |
1 |
0.6972 |
0.7232 |
1.5186 |
0.6702 |
0.7078 |
0.736 |
|
17 |
1 |
0.6975 |
0.724 |
2.0631 |
0.6794 |
0.717 |
0.7489 |
|
18 |
1 |
0.695 |
0.7221 |
2.8038 |
0.6859 |
0.7237 |
0.7593 |
|
19 |
1 |
0.6892 |
0.7171 |
3.7142 |
0.6889 |
0.7271 |
0.7665 |
|
20 |
1 |
0.6797 |
0.7082 |
4.754 |
0.6877 |
0.7265 |
0.7697 |
22
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