Measuring the Taylor rule's performance
AbstractUsing a recently developed econometric technique to determine how the original Taylor rule and subsequent variations perform using different measures of inflation, output and unemployment. We found that the rule remains relevant today, despite the changes wrought by globalization, financial market innovations and technological advances.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Dallas in its journal Economic Letter.
Volume (Year): 2 (2007)
Issue (Month): jun ()
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- Nikolsko-Rzhevskyy, Alex, 2008. "Monetary Policy Evaluation in Real Time: Forward-Looking Taylor Rules Without Forward-Looking Data," MPRA Paper 11352, University Library of Munich, Germany.
- Orlowski, Lucjan T., 2010.
"Monetary policy rules for convergence to the Euro,"
Elsevier, vol. 34(2), pages 148-159, June.
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