Can the Taylor rule be a good tool to analyse the monetary policy quality at the time of recent market turbulences ?

• Authors: Jan L. Bednarczyk
• Languages of publication: EN

Abstracts

EN

Article deals with the problems of application of the Taylor rule as a practical rule, facilitating monetary authorities` decision making in the years following financial crisis 2007+. Author comes to the conclusion, that the Taylor rule seems to be a poor tool to articulate postulates for central bank`s monetary policy and even for an ex post assessment of this policy. He proposes to substitute Non-decreasing economic growth rate of inflation (NDEGRI) for the Taylor rule as an indicator of the correctness of authorities actions.(original abstract)

Keywords

EN

Monetary policy; Economic growth; Inflation; Taylor rule

PL

Polityka pieniężna; Wzrost gospodarczy; Inflacja; Reguła Taylora

• Publisher: Instytut Naukowo-Wydawniczy "SPATIUM"
• Journal: Central European Review of Economics & Finance
• Year: 2016
• Issue: Vol. 16, No 6
• Pages: 5-16

Contributors

author

Jan L. Bednarczyk

• Kazimierz Pułaski University of Technology and Humanities in Radom, Poland

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