Did the great inflation occur despite policymaker commitment to a Taylor rule?

Did the Great Inflation Occur Despite Policymaker Commitment to a Taylor Rule?

Monetary Policy and the Great Inflation: A Multi-Country Time-Varying Analysis Using the Taylor Rule

This paper is motivated by the observation that the Great Inflation, i.e., the high and volatile inflation that developed in the mid 1960s and lasted for almost twenty years, was an international phenomenon. Given that observation, we argue that an explanation for the Great Inflation should be consistent with the timing of the events in many developed countries, and not only with the US. We pro...

Perhaps the FOMC Did What It Said It Did: An Alternative Interpretation of the Great Inflation

Bank of Canada working papers are theoretical or empirical works-in-progress on subjects in economics and finance. The views expressed in this paper are those of the authors. No responsibility for them should be attributed to the Bank of Canada. ii Acknowledgements We received many valuable comments from participants of the 2006 Workshop on Macroeconomic Forecasting, Analysis and Policy with Da...

Taylor Rule: A Model for the Mechanism of Monetary Policy and Inflation Control in the Framework of the Interest-Free Banking Act

The ultimate goal of monetary policy is to achieve price stability and high output. In this regard, central banks usually change the interest rate, liquidity, and money base in order to apply monetary policies. The John B. Taylor rule is one of the rules known in the transmission of monetary policy.[1] Based on this rule and given the output gap and inflation gap, the central bank increases or ...

Did parkinsonism occur before 1817?