The Explanatory Power of Monetary Policy Rules

John Taylor

Business Economics, 2007, vol. 42, issue 4, 8-15

Abstract: Over the past 20 years, the use of monetary policy rules has become pervasive in analyzing and prescribing monetary policy. This paper traces the development of such rules and their use in the analysis, prediction, and stabilization of national economies. In particular, rules provide insight into eras in which monetary policy was not effective as well as when it was, such as the persistence of the ongoing “Great Moderation.” The paper stresses the “scientific” contributions of rules, including their insight into fluctuations of housing construction and exchange rates, as well as into the term structure of interest rates.Business Economics (2007) 42, 8–15; doi:10.2145/20070401

Date: 2007
References: Add references at CitEc
Citations: View citations in EconPapers (32)

Downloads: (external link)
http://www.palgrave-journals.com/be/journal/v42/n4/pdf/be200722a.pdf Link to full text PDF (application/pdf)
http://www.palgrave-journals.com/be/journal/v42/n4/full/be200722a.html Link to full text HTML (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: The Explanatory Power of Monetary Policy Rules (2007)
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:pal:buseco:v:42:y:2007:i:4:p:8-15

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/11369

Access Statistics for this article

Business Economics is currently edited by Charles Steindel

More articles in Business Economics from Palgrave Macmillan, National Association for Business Economics Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla (sonal.shukla@springer.com) and Springer Nature Abstracting and Indexing (indexing@springernature.com).