| Description |
1 online resource (26 pages) : illustrations (some color) |
| Series |
IMF working paper, 2227-8885 ; WP/10/20 |
|
IMF working paper ; WP/10/20.
|
| Summary |
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 |
| Notes |
Title from PDF title page (IMF Web site, viewed February 3, 2010) |
|
At head of title: IMF Institute |
| Bibliography |
Includes bibliographical references (pages 24-26) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
English |
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digitized 2011 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Autoregression (Statistics)
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Monetary policy -- United States -- Econometric models
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Autoregression (Statistics)
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Monetary policy -- Econometric models
|
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United States
|
| Form |
Electronic book
|
| Author |
Wen, Yi, author
|
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International Monetary Fund, issuing body.
|
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IMF Institute, issuing body.
|
| ISBN |
1451918682 |
|
9781451918687 |
|
1462316409 |
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9781462316403 |
|
9786612845284 |
|
6612845287 |
|
1452704643 |
|
9781452704647 |
|
1451962290 |
|
9781451962291 |
|
1282845284 |
|
9781282845282 |
|
