The Real Exchange Rate in Taylor Rules: A Re-Assessment
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DOI: 10.1016/j.econmod.2018.03.011
Abstract: Examining alternative flexible inflation targeting strategies, we find that a small concern for real exchange rate stability as a policy goal matters. First, it warrants the inclusion of the real exchange rate in Taylor rules… read more here.
Keywords: taylor rules; real exchange; exchange rate;
Optimal Taylor rules when targets are uncertain
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DOI: 10.1016/j.euroecorev.2019.07.013
Abstract: We analyze the optimal Taylor rule in the standard New Keynesian model when output and inflation are imperfectly observed. When the central bank observes inflation and the output gap with error, the optimal Taylor rule… read more here.
Keywords: optimal taylor; inflation; taylor rules; output ... See more keywords