Money Growth Monitoring and the Taylor Rule

Using a series of examples, we review the various ways in which a monetary policy characterized by the Taylor rule can inject volatility into the economy. In the examples, a particular modification to the Taylor rule can reduce or even entirely eliminate the problems. Under the modified policy, the central bank monitors the money growth rate and commits to abandoning the Taylor rule in favor of a money growth rule in case money growth passes outside a particular monitoring range

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Year of publication:	[2022]
Authors:	Christiano, Lawrence J. ; Rostagno, Massimo
Publisher:	[S.l.] : SSRN
Subject:	Taylor-Regel \| Taylor rule \| Geldpolitik \| Monetary policy \| Geldmenge \| Money supply

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Extent:	1 Online-Ressource (66 p)
Series:	NBER Working Paper ; No. w8539
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 2001 erstellt
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013322871