Taylor rule and discretionary regimes in the United States: evidence from a k-state Markov switching model
We examine US monetary policies from 1973 to 2014 with the Taylor rule as a benchmark by utilizing a k-state Markov regime switching model in which the number and the periods of the regimes are endogenously determined. The model relates the federal funds rate with real time output gaps and inflation...
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| Main Authors: | , |
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| 格式: | Article |
| 語言: | English |
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2016
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| 在線閱讀: | https://hdl.handle.net/10356/81213 http://hdl.handle.net/10220/41106 |
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