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The methodology for assessing interest-rate policy rules: some comments

Author

Listed:
  • Martin Watts

    (Centre of Full Employment and Equity, The University of Newcastle, Newcastle, NSW, Australia)

Abstract

This paper is critical of the conceptual foundations and methodology adopted by in his exploration of the impact of different interest-rate policy rules on inflation. His modelling framework is too narrow to adequately discriminate between different interest-rate rules in terms of their broader macroeconomic impacts.

Suggested Citation

  • Martin Watts, 2021. "The methodology for assessing interest-rate policy rules: some comments," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 18(3), pages 275–285-2, December.
    • Handle: RePEc:elg:ejeepi:v:18:y:2021:i:3:p275-285
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    More about this item

    Keywords

    zero interest-rate policy (ZIRP); zero real policy rate (ZRRP); inflation models;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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