The Robustness and Efficiency of Monetary Policy Rules as Guidelines for Interest Rate Setting by European Central Bank.

This paper examines the implications of recent research on monetary policy rules for practical monetary policy making, with special emphasis on strategies for setting interest rates by the new European Central Bank (ECB). The paper draws on recent research and new simulations of a loarge open economy model to assess the efficiency of a simple benchmark rule in comparison with other proposed rules.

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Year of publication:	1998
Authors:	Taylor, J.B.
Institutions:	Institute for International Economic Studies (IIES), Stockholms Universitet
Subject:	MONETARY POLICY \| CENTRAL BANKS \| INTEREST RATE

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Series:	Stockholm - International Economic Studies.
Type of publication:	Book / Working Paper
Notes:	39 pages
Classification:	E43 - Determination of Interest Rates; Term Structure Interest Rates ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005638815