Jean-Francois, Lamarche; Zisimos, Koustasy - In: Studies in Nonlinear Dynamics & Econometrics 16 (2012) 5, pp. 1-26
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 mentioned author to the most recent available period. A three-regime threshold regression model is...