Taylor rules are simple monetary policy rules that prescribe how a central bank should adjust its interest rate policy instrument in a systematic manner in response to developments in in°ation and macroeconomic activity. This paper reviews the development and characteristics of Taylor rules in relation to alternative monetary policy guides and discusses their role for positive and normative monetary policy analysis.
CITATION STYLE
Orphanides, A. (2010). Taylor rules. In Monetary Economics (pp. 362–369). Palgrave Macmillan UK. https://doi.org/10.1057/9780230280854_39
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