Dittmar, Robert; Gavin, William T.; Kydland, Finn E. - Federal Reserve Bank of St. Louis - 2004
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Keywords: Inflation Persistence, Flexible Prices, Taylor Rule
JEL Classification: E31, E32, E42
Robert Dittmar … the Taylor rule are not precisely estimated in the literature. We
used Taylor’s value for the weight on inflation (1 … Taylor rule, on impact, the price level response to a technology
shock looks more like it would under a fixed money rule …