Determining optimal monetary speed limits

Andrew Blake

Economics Letters, 2012, vol. 116, issue 2, 269-271

Abstract: The proposal by Walsh (2003) that policy should include a speed limit by having the change in the output gap as an additional term in a Taylor-type rule is shown to be exactly optimal given an appropriate parameterization.

Keywords: Speed limit rule; Optimal monetary policy; Determinacy (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:116:y:2012:i:2:p:269-271

DOI: 10.1016/j.econlet.2012.03.003

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