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The Taylor Rule and the Norwegian Central Bank

 

Marketed By :  LAP LAMBERT Academic Publishing   Sold By :  Kamal Books International  
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  • Product Description
 
The Taylor rule is the simplest rule describing how the main monetary policy instrument - the policy interest rate - could be set. The rule was formulated by John Taylor in 1993 as a linear dependence of the central bank’s interest rate on the output gap and the deviation of the current inflation from its target level. From then on, the rule gained high popularity with economists who studied monetary policy. This can be explained by a high degree of accuracy with which Taylor described the US monetary policy. However, a number of economists question the Taylor rule’s relevance today and point out some serious flaws in it. The aim of this research is to check whether the Taylor rule in its simple linear form can be viewed as an appropriate description of the monetary policy of Norway’s central bank – Norges Bank, and also whether the rule can be used for forecasting purposes. Not only does this research focus on the original Taylor rule, but it also examines an extended version of the rule designed for small open economies.
Product Specifications
SKU :COC13731
AuthorOksana Balabay
LanguageEnglish
BindingPaperback
Number of Pages60
Publishing Year2012-08-03T00:00:00.000
ISBN978-3848426782
Edition1 st
Book TypeEconomics
Country of ManufactureIndia
Product BrandLAP LAMBERT Academic Publishing
Product Packaging InfoBox
In The Box1 Piece
Product First Available On ClickOnCare.com2015-07-24 00:00:00