Taylor, Mark; Davradakis, Emmanuel - In: Studies in Nonlinear Dynamics & Econometrics 10 (2007) 4, pp. 1359-1359
We examine potential nonlinear behaviour in the conduct of monetary policy by the Bank of England. We find significant nonlinearity in this policy setting, and in particular that the standard Taylor rule really only begins to bite once expected inflation is significantly above its target. This...