Are Central Banks Following a Linear or Nonlinear (Augmented) Taylor Rule?
نویسندگان
چکیده
منابع مشابه
Are Central Banks following a linear or nonlinear (augmented) Taylor rule?
The Taylor rule establishes a simple linear relation between the interest rate, inflation and output gap. However, this relation may not be so simple. To get a deeper understanding of central banks’ behaviour, this paper asks whether central banks are indeed following a linear Taylor rule or, instead, a nonlinear rule. At the same time, it also analyses whether that rule can be augmented with a...
متن کاملHow Efficient are Central European Banks?
This paper explores the issue of banking efficiency in Central Europe by applying the Fourier functional form and the stochastic cost frontier approach in calculating inefficiencies for a large sample of German, Austrian, Swiss and Luxembourg banks between 1997 and 2003. The findings suggest that the largest sized banks are generally the least efficient banks and the smallest sized banks are th...
متن کاملAn Overview of Linear and Nonlinear Rayleigh-Taylor Instability
The subject of RayleighTaylor instability is really fascinating. A survey is given to discuss what is known and what is not known about the phenomenon. Many promising extensions and applications are recovered.
متن کاملLinear versus nonlinear dimensionality reduction for banks' credit rating prediction
Dimensionality reduction methods have shown their usefulness for both supervised and unsupervised tasks in a wide range of application domains. Several linear and nonlinear approaches have been proposed in order to derive meaningful low-dimensional representations of high-dimensional data. Among nonlinear algorithms manifold learning methods, such as isometric feature mapping (Isomap), have rec...
متن کاملNowcasting and the Taylor Rule
Actual federal funds rates in the U.S. have, at times, deviated from the recommendations of a simple Taylor rule. This paper proposes a “nowcasting” Taylor rule that preserves the form of the Taylor rule but encompasses realistic assumptions on information observable to policymakers. Because contemporaneous inflation rates and output gaps are not observable at the time policy is set, policymake...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2008
ISSN: 1556-5068
DOI: 10.2139/ssrn.1210362