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Dissecting Taylor Rules in a Structural VAR / / Woon Choi, Yi Wen



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Autore: Choi Woon Visualizza persona
Titolo: Dissecting Taylor Rules in a Structural VAR / / Woon Choi, Yi Wen Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2010
Descrizione fisica: 26 p. : ill
Soggetto topico: Monetary policy - Mathematical models
Taylor's rule
Banks and Banking
Inflation
Macroeconomics
Economic Theory
Model Construction and Estimation
Monetary Policy
Price Level
Deflation
Macroeconomics: Production
Agriculture: Aggregate Supply and Demand Analysis
Prices
Interest Rates: Determination, Term Structure, and Effects
Prices, Business Fluctuations, and Cycles: General (includes Measurement and Data)
Economic theory & philosophy
Banking
Economic growth
Production growth
Supply shocks
Central bank policy rate
Business cycles
Production
Economic theory
Financial services
Supply and demand
Interest rates
Soggetto geografico: United States
Altri autori: WenYi  
Note generali: Bibliographic Level Mode of Issuance: Monograph
Nota di bibliografia: Includes bibliographical references.
Sommario/riassunto: 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.
Titolo autorizzato: Dissecting Taylor Rules in a Structural VAR  Visualizza cluster
ISBN: 1-4623-1640-9
9786612845284
1-4527-0464-3
1-4519-6229-0
1-282-84528-4
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788310703321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2010/020