This study examines Taiwan’s monetary policy reaction function based on an extended Taylor rule including the exchange rate, the stock price, and the lagged interest rate. The VAR model is employed to consider simultaneous relations among the endogenous variables. Two major monetary policy...

The authors propose two general functional forms, and apply them to the specification of utility functions for predicting farmers' production response. The polynomial utility functions were rejected, based on the result~ of a likelihood-ratio test. The appropriate degree of nonlinearity of the...