The Taylor principle in the long run: An empirical perspective

Yu Hsi Chou, Jyh Lin Wu

研究成果: 雜誌貢獻文章

摘要

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. (JEL E52, E58)

原文英語
頁(從 - 到)66-86
頁數21
期刊Contemporary Economic Policy
33
發行號1
DOIs
出版狀態已發佈 - 2015 一月 1
對外發佈Yes

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics
  • Public Administration

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