Taylor Rule Cross-Checking and Selective Monetary Policy Adjustment
نویسندگان
چکیده
منابع مشابه
Cross-checking optimal monetary policy with information from the Taylor rule
This paper shows that monetary policy should be delegated to a central bank that cross-checks optimal policy with information from the Taylor rule. Attaching some weight to deviations of the interest rate from the interest rate prescribed by the Taylor rule is beneficial if the central bank aims at optimally stabilizing inflation and output gap variability under discretion. Placing a weight on ...
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This paper is a revised English-language version of the author’s report at a workshop, “Asset-Price Fluctuations and Policy Responses: Experiences of Interwar Japan,” held by the Institute for Monetary and Economic Studies (IMES), Bank of Japan (December 20, 2001). The author has received many valuable comments from participants of the workshop, including Professor Masanao Ito of University of ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2012
ISSN: 1556-5068
DOI: 10.2139/ssrn.2083057