The Taylor principle in the long run: An empirical perspective

Yu Hsi Chou; Jyh Lin Wu

doi:10.1111/coep.12055

The Taylor principle in the long run: An empirical perspective

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Abstract

In this paper, we empirically assess the Taylor principle in the long run with a small-scale, trivariate structural vector autoregression. Using U.S. data spanning the period from 1959Q1 to 2010Q2 and different measures of inflation and the output gap, we find that the Taylor principle is supported in the long run for the post-1979 era, but the principle is unlikely to hold in the long run for the pre-1979 era.

Original language	English
Pages (from-to)	66-86
Number of pages	21
Journal	Contemporary Economic Policy
Volume	33
Issue number	1
DOIs	https://doi.org/10.1111/coep.12055
Publication status	Published - 2015 Jan 1
Externally published	Yes

ASJC Scopus subject areas

General Business,Management and Accounting
Economics and Econometrics
Public Administration

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10.1111/coep.12055

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The Taylor principle in the long run: An empirical perspective

Abstract

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