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Monetary policy estimation in real time: Forward-looking taylor rules without forward-looking data

I propose a methodology for estimating forward-looking Taylor rules in real time when forward-looking real-time central bank data are unavailable. The methodology consists of choosing appropriate models to closely replicate U.S. Greenbook forecasts and then applying these models to Canada, Germany, and the U.K. The results show that German and U.S. Taylor rules are characterized by inflation coefficients increasing with the forecast horizon and a positive output gap response. The U.K. and Canada interest rate reaction functions achieve maximum inflation response at middle-term horizons of about 1/2 years and the output gap coefficient is insignificant. [PUBLICATION ABSTRACT] .Printed journal

Ketersediaan

Call NumberLocationAvailable
JMCB4304PSB lt.dasar - Pascasarjana1
Penerbit The Ohio State University.,
Edisi -
Subjek Monetary policy
Inflation
Economic models
Economic forecasting
studies
ISBN/ISSN 222879
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
Other Version/Related Tidak tersedia versi lain
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