Lubik, Thomas A. (contributor); … - 2003 - [Elektronische Ressource]
find a case for super-inertial interest rate policy
JEL CLASSIFICATION: C62, E40, E52
KEYWORDS: Taylor Rule, Monetary … determinacy properties of the economy when the central bank follows
a Taylor-Rule:
R
t
= R
³
π
t+i
π
´
φ
π
µ
y
t+j
y
¶
φ
y
, (24 ….1 Current-Looking Taylor-Rule
With a current-looking rule
e
R
t
= φ
π
eπ
t
+φ
y
ey
t
, parameter restrictions for equilibrium …