Publication
Feb 2015
This paper investigates the Taylor rule, a monetary-policy rule that stipulates how much a central bank should change the nominal interest rate in response to changes in inflation, output, or other economic conditions. The author examines deviations from the Taylor rule and argues that both international spillovers and nonlinear reaction patterns can offer a more realistic specification of the Taylor rule in the main industrial countries.
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English (PDF, 19 pages, 1.0 MB) |
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Author | Joscha Beckmann, Ansgar Belke, Christian Dreger |
Series | CEPS Working Documents |
Issue | 403 |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2015 Centre for European Policy Studies (CEPS) |