Title of article :
Are interest rate regressions evidence for a Taylor rule?
Author/Authors :
Patrick Minford، نويسنده , , Francesco Perugini، نويسنده , , Naveen Srinivasan، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2002
Abstract :
In a variety of recent papers, researchers have found that interest rate behaviour approximately follows a Taylor rule. We show that such interest rate behaviour results when the central bank may be following quite different monetary policy rules from the one proposed by Taylor. In other words, an interest rate relation with output and inflation does not identify a central bank reaction function.
Keywords :
Monetary policy rules , Identification
Journal title :
Economics Letters
Journal title :
Economics Letters