Wang, Guizhou; Hausken, Kjell - In: Journal of central banking theory and practice 12 (2023) 2, pp. 211-237
various combinations of the Taylor rule, the Quantity Equation (Friedman, 1970), and the Phillips (1958) curve. The monthly US … least squares method gives better results than the Taylor rule. The optimal parameter values involve a relatively high … decreases by 42.95% when compared with the Taylor rule. …