Policy rules in macroeconomic forecasting models

Todd Clark

Economic Commentary, 2012, issue Oct

Abstract: This Commentary describes how some of the Cleveland Fed?s macroeconomic forecasting models have been modified to use a Taylor rule for monetary policy. After briefly describing the Taylor rule implementation, the article shows that the Taylor rule included in one of our models successfully captures the course of monetary policy in the most recent episode of policy tightening.

Keywords: Forecasting; Macroeconomics; Taylor's rule; Monetary policy (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.26509/frbc-ec-201216 Full Text (text/html)
https://www.clevelandfed.org/-/media/project/cleve ... sting-models-pdf.pdf Full Text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedcec:y:2012:i:oct12:n:2012-16

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Economic Commentary from Federal Reserve Bank of Cleveland Contact information at EDIRC.
Bibliographic data for series maintained by 4D Library ().