Forward-Looking and Backward-Looking Taylor Rules: Evidence from Pakistan

Forward-Looking Versus Backward-Looking Taylor Rules*

Working papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views stated herein are those of the authors and are not necessarily those of the Federal Reserve Bank...

Pricing Access: Forward-looking versus Backward-looking Cost Rules

Regulators across many different jurisdictions and industries have recently adopted the practice of setting access prices based on the current costs of providing the relevant facilities. Though widely regarded as being efficient, the efficiency implications of using current costs instead of historical costs have not been formally analyzed. Our analysis shows that given stochastic costs, forward...

Looking Forward to Looking Backward

Decisions are powerfully affected by anticipated regret, and people anticipate feeling more regret when they lose by a narrow margin than when they lose by a wide margin. But research suggests that people are remarkably good at avoiding self-blame, and hence they may be better at avoiding regret than they realize. Four studies measured people’s anticipations and experiences of regret and self-b...

Deregulation: Looking Backward and Looking Forward

Looking Forward and Looking Backward : Cognitive and Experiential

Research support from the Sol Snider Center for Entrepreneurship at the Wharton School, University of Pennsylvania and the Division of Research, Harvard Business School is gratefully acknowledged. We have benefited from the comments of seminar participants at the Dallas ORSA/TIMS Meeting; Graduate School of Business, University of Chicago; Sloan School of Management, MIT; Anderson School of Man...