"In Central Bank Governance and Oversight Reform, the distinguished contributors tackle this and a range of other key questions surrounding the balance of central bank authority with accountability and constraints. They discuss the conflicting public attitudes towards the Fed. The authors...

Early research on the Taylor rule typically divided the data exogenously into pre-Volcker and Volcker-Greenspan subsamples. We contribute to the recent trend of endogenizing changes in monetary policy by estimating a real-time forward-looking Taylor rule with endogenous Markov switching...