This paper provides a characterisation of U.S. monetary policy within a generalized Tay¬lor rule framework that accommodates uncertainties about the duration of policy regimes and the speciÞcation of the rule, in addition to the standard parameter and stochastic un¬certainties inherent in...

Recent increases in East Asian purchases of US treasury securities has led to growing concern over its impact on the US economy, particularly on the US long-term and short-term interest rates. The vector error-correction model results revealed the presence of long-run causal relations among the...

This paper provides a characterisation of U.S. monetary policy within a generalized Taylor rule framework that accommodates uncertainties about the duration of policy regimes and the specification of the rule, in addition to the standard parameter and stochastic uncertainties inherent in...