The Taylor rule and interest rates in the EMU area

被引：103

作者：

Gerlach, S ^{[1
]}

Schnabel, G ^{[1
]}

机构：

[1] Bank Int Settlements, Basel, Switzerland

来源：

ECONOMICS LETTERS | 2000年 / 67卷 / 02期

关键词：

ECB; Taylor rule;

D O I：

10.1016/S0165-1765(99)00263-3

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We demonstrate that average interest rates in the EMU countries in 1990-98, with the exception of the period of exchange market turmoil in 1992-93, moved very closely with average output gaps and inflation as suggested by the Taylor rule. (C) 2000 Elsevier Science S.A. All rights reserved. JEL classification: E5.

引用

页码：165 / 171

页数：7