Belke, Ansgar; Polleit, Thorsten - In: Applied Economics 39 (2007) 17, pp. 2197-2209
Monetary policies of the European Central Bank (ECB) and US Fed can be characterized by 'Taylor rules', that is both central banks seem to be setting rates by taking into account the 'output gap' and inflation. We also set up and tested Taylor rules which incorporate money growth and the...