04323oam 22011654 450 991078831070332120230725040447.01-4623-1640-997866128452841-4527-0464-31-4519-6229-01-282-84528-4(CKB)3170000000055420(SSID)ssj0000940123(PQKBManifestationID)11553622(PQKBTitleCode)TC0000940123(PQKBWorkID)10946635(PQKB)10661954(OCoLC)503317065(MiAaPQ)EBC1606080(IMF)WPIEE2010020(EXLCZ)99317000000005542020020129d2010 uf 0engurcn|||||||||txtccrDissecting Taylor Rules in a Structural VAR /Woon Choi, Yi WenWashington, D.C. :International Monetary Fund,2010.26 p. illIMF Working PapersBibliographic Level Mode of Issuance: Monograph1-4519-1868-2 Includes bibliographical references.This paper uncovers Taylor rules from estimated monetary policy reactions using a structural VAR on U.S. data from 1959 to 2009. These Taylor rules reveal the dynamic nature of policy responses to different structural shocks. We find that U.S. monetary policy has been far more responsive over time to demand shocks than to supply shocks, and more aggressive toward inflation than output growth. Our estimated dynamic policy coefficients characterize the style of policy as a "bang-bang" control for the pre-1979 period and as a gradual control for the post-1979 period.IMF Working Papers; Working Paper ;No. 2010/020Monetary policyMathematical modelsTaylor's ruleBanks and BankingimfInflationimfMacroeconomicsimfEconomic TheoryimfModel Construction and EstimationimfMonetary PolicyimfPrice LevelimfDeflationimfMacroeconomics: ProductionimfAgriculture: Aggregate Supply and Demand AnalysisimfPricesimfInterest Rates: Determination, Term Structure, and EffectsimfPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)imfEconomic theory & philosophyimfBankingimfEconomic growthimfProduction growthimfSupply shocksimfCentral bank policy rateimfBusiness cyclesimfProductionimfEconomic theoryimfFinancial servicesimfSupply and demandimfInterest ratesimfUnited StatesimfMonetary policyMathematical models.Taylor's rule.Banks and BankingInflationMacroeconomicsEconomic TheoryModel Construction and EstimationMonetary PolicyPrice LevelDeflationMacroeconomics: ProductionAgriculture: Aggregate Supply and Demand AnalysisPricesInterest Rates: Determination, Term Structure, and EffectsPrices, Business Fluctuations, and Cycles: General (includes Measurement and Data)Economic theory & philosophyBankingEconomic growthProduction growthSupply shocksCentral bank policy rateBusiness cyclesProductionEconomic theoryFinancial servicesSupply and demandInterest ratesChoi Woon1493512Wen Yi1532212International Monetary Fund.DcWaIMFBOOK9910788310703321Dissecting Taylor Rules in a Structural VAR3778296UNINA