Rudebusch (1998) Taylor's Rule
and the Fed: 1970-1997.
now calls for the federal funds rate to be well above zero if ...
Paul Krugman, Taylor's Rule
on Fiscal Policy, The Conscience OF A Liberal (June 16, 2013, 8:13 AM), http://krugman.blogs.nytimes.com/2013/06/16/taylors-rule-on-fiscal-policy/.
and the Fed: 1970-1997." Federal Reserve Bank of San Francisco Economic Review, 3.
Once the optimal Taylor's rule
is obtained in its reduced form, it is estimated in a Markov-switching model for Colombia between 1990 and 2011 because the Bank of the Republic adopted an inflation targeting monetary policy midway through this period, in October 2000.
Set against Charles Taylor's rule
of Liberia, Alexander Maksik's novel transmutes the bloody madness of civil war into the advancing disorientation of Jacqueline, a refugee attempting to find direction in the seaside resort on a Greek isle.
For brevity's sake, we only computed optimal interest rates when a lag of four months is included in the specification of the Taylor's rule
versus Taylor Rules," Working Paper, May.
53) states that his rule "features responses to the same macroeconomic conditions as in Taylor's rule
, but with a base instrument." In countries where short-term interest rates are used as a policy instrument, it is the Taylor rule which suggests that the monetary policy instrument should be regulated according to changes in macroeconomic conditions.
Current monetary policy literature talks about the response of the federal funds rate to stabilize goal variables (inflation rate and GDP) often in the framework of Taylor's rule
. The improved performance of the economy is also related to the demise of monetarism in the policy-making and academic literature.
and the Fed: 1970-1997," Federal Reserve Bank of San Francisco Economic Review, 3, 1998, pp.
This success seems remarkable because Taylor's rule
is so simple: It is set according to only four components.