Alvarez-Ramirez, Jose; Ibarra-Valdez, Carlos; … - In: Physica A: Statistical Mechanics and its Applications 387 (2008) 5, pp. 1283-1300
A critical issue for central banks in modern economies is the inflation stabilization about a prescribed level. The best-known simple instrumental rule to guide monetary policy to control inflation is the Taylor rule, where the instrument (e.g., a short interest rate) responds to changes in the...