The Taylor Rule and Interest Rates in the EMU Area

Stefan Gerlach () and Gert Schnabel

No 2271, CEPR Discussion Papers from C.E.P.R. Discussion Papers

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 in relation to average output gaps and inflation as suggested by the Taylor rule.

Keywords: ECB; Taylor Rule (search for similar items in EconPapers)
JEL-codes: E5 (search for similar items in EconPapers)
Date: 1999-10
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Citations: View citations in EconPapers (55)

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Journal Article: The Taylor rule and interest rates in the EMU area (2000)
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