Changes in Monetary Policy Rules for the U.S.A., the U.K., and Japan: Estimating their Postwar Experiences
| Autor: | AMANO, Masanori |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2022 |
| Zdroj: | 千葉大学経済研究 = Economic journal of Chiba University. 37(1-2):1-16 |
| ISSN: | 2436-8873 |
| Popis: | [SUMMARY] This paper estimates monetary policy rules of postwar U.S.A., U.K., and Japan for three subperiods in each country. As was discussed by J.B. Taylor and M. Woodford, the rules can be broadly called the Taylor rule. Using the GMM and related method, we obtain satisfactory estimation results. We also compare the size of policy rate responses to three explanatory variables, which are expected inflation, the output gap, and foreign exchange reserves among the three countries. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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