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Taylor rules in the open economy.

Abstract:

Taylor rules, which link short-term interest rates to fluctuations in inflation and output, have been shown to be a good guide (both positively and normatively) to the conduct of monetary policy. As a result they have been used extensively to model policy in the context of both closed and open economy models. Their determinacy properties have also been analysed in the context of closed and, to a more limited degree, in small open economy models. In this paper, we extend the analysis of the de...

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Authors


Campbell Leith More by this author
Simon Wren-Lewis More by this author
Journal:
European Economic Review
Volume:
53
Issue:
8
Publication date:
2009
DOI:
URN:
uuid:d9d15d31-8145-4824-94ee-5d522658264d
Local pid:
oai:economics.ouls.ox.ac.uk:14942
Language:
English

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