An Historical Analysis of Monetary Policy Rules

Preprint OPEN
John B. Taylor;
  • Subject:
    • jel: jel:E3 | jel:E5

This paper examines several episodes in U.S. monetary history using the framework of an interest rate rule for monetary policy. The main finding is that a monetary policy rule in which the interest rate responds to inflation and real output more aggressively than it did... View more
Share - Bookmark