Why inflation targeting central banks seem to follow a standard Taylor rule
AbstractCentral banks only caring about inflation stability seem to follow a standard Taylor rule. The alleged reaction to the output gap could be a reaction of the nominal interest rate to variations in the natural real rate of interest.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 115 (2012)
Issue (Month): 1 ()
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Web page: http://www.elsevier.com/locate/ecolet
Taylor rule; New Keynesian; Endogenous growth;
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