Batini, Nicoletta; Harrison, Richard; Millard, Stephen P. - In: Proceedings (2001) Mar
The most popular simple rule for the interest rate, due to Taylor (1993a) is meant to inform monetary policy in … for the day-to-day conduct of monetary policy. In this paper we specify and evaluate a comprehensive set of simple … monetary policy rules that are suitable for small open economies in general, and for the United Kingdom in particular. We do so …