Koustas, Zisimos; Lamarche, Jean-Francois - Department of Economics, Brock University - 2010
This paper extends the work in Orphanides (2003) by re-examining the empirical evidence for a Taylor rule in a nonlinear framework. In doing so, it updates the Greenbook dataset used by the afore men- tioned author to the most recent available period. A three-regime threshold regression model is...