Policy rules in practice |
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| Institution: | 1. Board of Governors of the Federal Reserve System, Division of Research and Statistics, 20th Street and Constitution Avenue N.W., D.C. Washington 20551, USA;2. European Central Bank, Monetary Policy Research Division, Frankfurt 60640, Germany;1. Research Institute of Economics and Management, Southwestern University of Finance and Economics, China;2. Institute of Science and Development, Chinese Academy of Sciences, Beijing 100190, China;3. School of Public Policy and Management, University of Chinese Academy of Sciences, Beijing 100049, China |
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| Abstract: | Over the past twenty years, monetary policy rules have played an increasingly central role in disucssions of monetary policy strategy and tactics at the Federal Reserve. This represented a sea change in thinking about monetary policy in terms of a systematic startagey rather than a sequence of policy decisions. |
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| Keywords: | Monetary policy Taylor rule |
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