Identification With Taylor Rules : A Critical Review

The parameters of the Taylor rule relating interest rates to inflation and other variables are not identified in new-Keynesian models. Thus, Taylor rule regressions cannot be used to argue that the Fed conquered inflation by moving from a passive to an active policy in the early 1980s

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Year of publication:	2009
Authors:	Cochrane, John H.
Publisher:	[S.l.] : SSRN
Subject:	Taylor-Regel \| Taylor rule \| Geldpolitik \| Monetary policy \| Zinspolitik \| Interest rate policy \| Zentralbank \| Central bank

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Extent:	1 Online-Ressource (43 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments September 4, 2007 erstellt
Other identifiers:	10.2139/ssrn.1012187 [DOI]
Classification:	E31 - Price Level; Inflation; Deflation ; E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; C32 - Time-Series Models
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014224370