A Review of Monetary Policy Rules

Christopher Sims ()

Journal of Economic Literature, 2001, vol. 39, issue 2, 562-566

Abstract: This article reviews Monetary Policy Rules, edited by John Taylor. The book evaluates the Taylor rule, a policy rule that specifies changes in the central bank's interest rate according to what is happening to two variables, real output and inflation. Questions are raised about (a) how well the models fit the data; (b) the validity of the assumption that there has been clear improvement in monetary policy; and (c) the rule's microfoundations.

JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2001
Note: DOI: 10.1257/jel.39.2.562
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Citations: View citations in EconPapers (11)

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