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James Yetman
''Speed Limit Policies and Interest Rate Smoothing''
( 2004, Vol. 5 No.17 )
Walsh (2003) argued that U.S. monetary policy can be described as following a "speed limit" policy. Here I show that this provides an explanation for the apparent interest rate smoothing present in central bank policy.
Keywords: Interest Rate Smoothing
JEL: E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Manuscript Received : Oct 27 2004 Manuscript Accepted : Oct 28 2004

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