The Taylor rule and interest rates in the EMU area: a note

Gert Schnabel and Stefan Gerlach ()

No 73, BIS Working Papers from Bank for International Settlements

Abstract: We demonstrate that average interest rates in the EMU countries in 1990-98, with the exception of the period of exchange market turmoil in 1992-93, moved very closely with average output gaps and inflation as suggested by the Taylor rule.

Pages: 20 pages
Date: 1999-08
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Citations: View citations in EconPapers (55)

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