The Bank of Korea's nonlinear monetary policy rule

Jahyun Koo, Ivan Paya () and David Peel

Applied Economics Letters, 2012, vol. 19, issue 12, 1193-1202

Abstract: A new test for nonlinear causality and also nonparametric procedures suggest significant nonlinearity in the implementation of the Taylor rule by the Bank of Korea (BOK). In particular, the response to the output gap appears nonlinear.

Date: 2012
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DOI: 10.1080/13504851.2011.617688

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