I demonstrate that econometric estimations of nominal interest rate rules may tell little, if anything, about an economy's determinacy properties. In particular, correct inference about the interest-rate response to inflation provides no information about determinacy. Instead, it could reveal whether optimal monetary policymaking is performed under discretion or commitment.
B.e. Journal of Macroeconomics, 2011, Vol 11, Issue 1 (Contributions), Article 11, p. 1-20