Add to ORKGAccording to the Taylor principle a central bank should adjust the nominal interest rate by more than one for one in response to changes in current inflation. Most of the existing literature supports the view that by following this simple recommendation a central bank can avoid being a source of unnecessary fluctuations in economic activity. The present paper shows that this conclusion is not robust with respect to the modelling of capital accumulation. We use our insights to discuss the desirability of alternative arrangements for the conduct of monetary policy.publishedVersio
We argue that it is not necessary for the central bank to react to the exchange rate to have a desir...
The operational performance of a set of simple monetary pol- icy rules à la Taylor in a model with ...
The paper presents a human-capital-based endogenous growth, cash-in-advance economy with endogenous ...
According to the Taylor principle a central bank should adjust the nominal interest rate by more tha...
Nowadays, central banks mostly conduct monetary policy by setting nominal interest rates. A widely h...
In the presence of firm-specific capital the Taylor principle can generate multiple equilibria. Svee...
What are the consequences for monetary policy design implied by the fact that price setting and inve...
In the presence of firm-specific capital the Taylor principle can generate multiple equilibria. Svee...
The operational performance of a set of simple monetary policy rules à la Taylor in a model with cap...
The purpose of this article is to characterize optimal interest rate rules in the framework of a dyn...
The Taylor rule has revolutionized the way many policymakers at central banks think about monetary p...
What are the consequences for monetary policy design implied by the fact that price setting and inve...
The paper generalizes the Taylor principle—the proposition that central banks can stabilize the macr...
Recent literature on the design of optimal monetary policy has shown that devia-tions from price sta...
The adoption of a Taylor-type monetary policy rule and an inflation target for emerging market econo...
We argue that it is not necessary for the central bank to react to the exchange rate to have a desir...
The operational performance of a set of simple monetary pol- icy rules à la Taylor in a model with ...
The paper presents a human-capital-based endogenous growth, cash-in-advance economy with endogenous ...
According to the Taylor principle a central bank should adjust the nominal interest rate by more tha...
Nowadays, central banks mostly conduct monetary policy by setting nominal interest rates. A widely h...
In the presence of firm-specific capital the Taylor principle can generate multiple equilibria. Svee...
What are the consequences for monetary policy design implied by the fact that price setting and inve...
In the presence of firm-specific capital the Taylor principle can generate multiple equilibria. Svee...
The operational performance of a set of simple monetary policy rules à la Taylor in a model with cap...
The purpose of this article is to characterize optimal interest rate rules in the framework of a dyn...
The Taylor rule has revolutionized the way many policymakers at central banks think about monetary p...
What are the consequences for monetary policy design implied by the fact that price setting and inve...
The paper generalizes the Taylor principle—the proposition that central banks can stabilize the macr...
Recent literature on the design of optimal monetary policy has shown that devia-tions from price sta...
The adoption of a Taylor-type monetary policy rule and an inflation target for emerging market econo...
We argue that it is not necessary for the central bank to react to the exchange rate to have a desir...
The operational performance of a set of simple monetary pol- icy rules à la Taylor in a model with ...
The paper presents a human-capital-based endogenous growth, cash-in-advance economy with endogenous ...