Results 11 to 20 of about 63,034 (165)
Taylor rules in the open economy [PDF]
European Economic Review, 2003 Taylor rules which link short-term interest rates to fluctuations in inflation and output, have been shown to be a good guide (both positively and normatively) to the conduct of monetary policy. As a result they have been used extensively to model policy in the context of both closed and open economy models.
Campbell Leith, Simon J.Q. Wren-Lewis
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Forecast uncertainty and the Taylor rule [PDF]
Journal of International Money and Finance, 2015 Abstract In this paper, we derive a modification of a forward-looking Taylor rule by integrating two variables that measure the uncertainty of inflation and GDP growth forecasts into an otherwise standard New Keynesian model. We show that certainty-equivalence in New Keynesian models is a consequence of log-linearization and that a second-order ...
Christian Bauer, Matthias Neuenkirch
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No-Arbitrage Taylor Rules [PDF]
, 2004 We estimate Taylor (1993) rules and identify monetary policy shocks using no-arbitrage pricing techniques. Long-term interest rates are risk-adjusted expected values of future short rates and thus provide strong over-identifying restrictions about the policy rule used by the Federal Reserve.
Andrew Ang, Sen Dong, Monika Piazzesi
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Taylor rule estimation by OLS [PDF]
Journal of Monetary Economics, 2018 Ordinary Least Squares (OLS) estimation of monetary policy rules produces potentially inconsistent estimates of policy parameters. The reason is that central banks react to variables, such as inflation and the output gap, that are endogenous to monetary policy shocks.
Carlos Carvalho +2 more
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Tinbergen Rules the Taylor Rule [PDF]
Eastern Economic Journal, 2006 This paper elaborates a simple model of growth with a Taylor-like monetary policy rule that includes inflation-targeting as a special case. When the inflation process originates in the product market, inflation-targeting locks in the unemployment rate prevailing at the time the policy matures.
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Liquidity Trap and stability of Taylor rules [PDF]
Mathematical Social Sciences, 2017 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Le Riche, Antoine +2 more
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Monetary Policy Rule and Taylor Principle in Mongolia: GMM and DSGE Approaches
International Journal of Financial Studies, 2020 This article aims to examine the monetary policy rule under an inflation targeting in Mongolia with a focus on its conformity to the Taylor principle, through two kinds of approaches: a monetary policy reaction function by the generalized-method-of ...
Hiroyuki Taguchi, Ganbayar Gunbileg
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The Macroeconomic Effects of the Taylor Rule Deviations in Central and Eastern European Countries
Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, 2023 A standard Taylor rule was estimated for several Central and Eastern European (CEE) countries (Czechia, Hungary, Poland, Romania) based on quarterly data over the 2002-2021 period.
Viktor Shevchuk
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Threshold Regression Model for Taylor Rule: The Case of Turkey
Review of Economic Analysis, 2020 This paper employs the structural threshold approach of Kourtellos et al. (2016) to examine various specifications of the Taylor rule model. Contrary to the previous work on the Taylor rule, this methodology allows for endogeneity of the threshold ...
Pinar Deniz +2 more
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Taylor rules and the term structure [PDF]
Journal of Monetary Economics, 2006 Abstract The expectations model of the term structure has been subjected to numerous empirical tests and almost invariably rejected, with the failure generally attributed to systematic expectations errors or to shifts in risk premia. Rules for monetary policy designed along the lines of Taylor [1993.
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