Gaps versus Growth Rates in the Taylor Rule
نویسندگان
چکیده
منابع مشابه
The Taylor rule and interest rates in the EMU area *
We demonstrate that average interest rates in the EMU countries in 1990–98, with the exception of the period of exchange market turmoil in 1992–93, moved very closely with average output gaps and inflation as suggested by the Taylor rule. 2000 Elsevier Science S.A. All rights reserved.
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 کاملTinbergen rules the Taylor Rule
Tinbergen Rules the Taylor Rule by Thomas R. Michl JEL E12, E52
متن کاملReal-time expectations in the Taylor rule
This paper presents a refined interpretation of the role of real time data in estimating a Taylor rule. We use monthly Consensus survey data to construct inflationary and growth expectations. We argue that using real time expectations in estimating a Taylor rule is to be preferred above using real time output gap data alone. We approach uncertainty by the variance and skewness of expected outpu...
متن کاملA Critical Analysis of Rayleigh-Taylor Growth Rates
Recent simulations of Rayleigh-Taylor instability growth rates display considerable spread. We propose that diierences in numerical dissipation eeects (mass diiusion and viscosity) due to algorithmic diierences and differences in simulation duration are the dominant factors that produce such diierent results. Within the simulation size and durations explored here, we have explained principal di...
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: Economic Commentary (Federal Reserve Bank of Cleveland)
سال: 2012
ISSN: 2163-3738,0428-1276
DOI: 10.26509/frbc-ec-201217