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Magical Tome
- First published
- 2007
- Publisher
- National Bureau of Economic Research
- Pages
- 43 pages
Identification with Taylor Rules
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About this book
The parameters of the Taylor rule relating interest rates to inflation and other variables are not identified in new-Keynesian models. Thus, Taylor rule regressions cannot be used to argue that the Fed conquered inflation by moving from a "passive" to an "active" policy in the early 1980s.
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Pacing
Horror / Dark Elements
Romance
Spice Level
LGBTQ+ Representation
Social & Political Themes in Stories