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Monetary Policy, Taylor’s Rule and Instability

✍ Scribed by Luis Alberto Alonso González; Alfonso Palacio Vera

Book ID
108550880
Publisher
John Wiley and Sons
Year
2002
Tongue
English
Weight
275 KB
Volume
53
Category
Article
ISSN
0026-1386

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Nonlinearity in the Fed's monetary polic
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## Abstract This paper investigates the nature of nonlinearities in the monetary policy rule of the US Federal Reserve (Fed) using the flexible approach to nonlinear inference. We find that while there is significant evidence of nonlinearity for the period to 1979, there is little such evidence for