The Taylor rule and interest rates in the EMU area *
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چکیده
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.
منابع مشابه
Taylor Rule: A Model for the Mechanism of Monetary Policy and Inflation Control in the Framework of the Interest-Free Banking Act
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تاریخ انتشار 2000