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Chapter 15. Simple and Robust Rules for Monetary Policy
Taylor, John B.; Williams, John C. - In: Handbook of monetary economics : volume 3, (pp. 829-859). 2010
This paper focuses on simple normative rules for monetary policy that central banks can use to guide their interest rate decisions. Such rules were first derived from research on empirical monetary models with rational expectations and sticky prices built in the 1970s and 1980s. During the past...
Persistent link: https://www.econbiz.de/10014025627
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The long and the short end of the term structure of policy rules
Smith, Josephine M.; Taylor, John B. - 2007
Persistent link: https://www.econbiz.de/10003606601
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The Long and the Short End of the Term Structure of Policy Rules
Smith, Josephine - 2008
inflation and output in the United States. The shift occurred in the early 1980s. We then derive an equation that links these … responses to the coefficients of the central bank's monetary policy rule for the short-term interest rate. The equation reveals … this equation, we show that a shift in the policy rule in the early 1980s provides an explanation for the observed shift in …
Persistent link: https://www.econbiz.de/10012773219
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The Long and the Short End of the Term Structure of Policy Rules
Smith, Josephine M. - 2007
inflation and output in the United States. The shift occurred in the early 1980s. We then derive an equation that links these … responses to the coefficients of the central bank's monetary policy rule for the short-term interest rate. The equation reveals … this equation, we show that a shift in the policy rule in the early 1980s provides an explanation for the observed shift in …
Persistent link: https://www.econbiz.de/10012465004
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Inflation targeting in high inflation emerging economies : lessons about rules and instruments
Taylor, John B. - In: Journal of applied economics 22 (2019) 1, pp. 103-116
This talk emphasizes the connection between inflation targeting and monetary policy rules. Inflation targeting is not … monetary policy rule without a target inflation rate. Hence, there is a symbiotic relationship between inflation targeting and … of inflation. Interest rate rules work best within a band between very high inflation and deflation. Outside that band …
Persistent link: https://www.econbiz.de/10012157288
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The explanatory power of monetary policy rules
Taylor, John B. - 2007
of phenomenon in macroeconomics and finance, including the Great Moderation, the correlation between exchange rates and … interest rates, and the shift in the response of the term structure of interest rates to inflation and output. Although the …
Persistent link: https://www.econbiz.de/10003622930
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The Explanatory Power of Monetary Policy Rules
Taylor, John B. - 2007
phenomenon in macroeconomics and finance, including the Great Moderation, the correlation between exchange rates and interest … rates, and the shift in the response of the term structure of interest rates to inflation and output. Although the theory …
Persistent link: https://www.econbiz.de/10012775473
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The explanatory power of monetary policy rules : simple principles have big impacts
Taylor, John B. - In: Business economics : the journal of the National … 42 (2007) 4, pp. 8-15
Persistent link: https://www.econbiz.de/10009740636
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The Explanatory Power of Monetary Policy Rules
Taylor, John B. - 2007
phenomenon in macroeconomics and finance, including the Great Moderation, the correlation between exchange rates and interest … rates, and the shift in the response of the term structure of interest rates to inflation and output. Although the theory …
Persistent link: https://www.econbiz.de/10012464961
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The monetary transmission mechanism : an empirical framework
Taylor, John B. - In: The journal of economic perspectives : EP ; a journal … 9 (1995) 4, pp. 11-26
Persistent link: https://www.econbiz.de/10001194324