منابع مشابه
A Taylor Rule for Fiscal Policy?
In times of rapid macroeconomic change it would seem useful for both fiscal and monetary policy to be modified frequently. This is true for monetary policy with monthly meetings of the Open Market Committee. It is not true for fiscal policy which mostly varies with the annual Congressional budget cycle. This paper proposes a feedback framework for analyzing the question of whether or not moveme...
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The existence of a structural budget deficit in Iranian economy and the lack of fiscal discipline have raised concerns about the financial stability of governments among economists. In recent decades, fiscal rules have been considered as a way to establish fiscal discipline and financial sustainability of governments around the world. In this regard, the present study seeks to design a fiscal f...
متن کاملHistorical monetary policy analysis and the Taylor rule
This study examines the usefulness of the Taylor-rule framework as an organizing device for describing the policy debate and evolution of monetary policy in the United States. Monetary policy during the 1920s and since the 1951 Treasury-Federal Reserve Accord can be broadly interpreted in terms of this framework with rather surprising consistency. In broad terms, during these periods policy has...
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This paper investigates whether Taylor rule can better guide the monetary policy in developing economies. Existing literatures do not focus on the implementability of rule-based monetary policy in emerging economies. In last two decades a number of industrialised countries have gained success in achieving macroeconomic policy goals by switching to rule-based policy regime from discretionary fra...
متن کاملTaylor 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 ...
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ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2014
ISSN: 1094-2025
DOI: 10.1016/j.red.2013.08.003