The Taylor rule under inquiry: Hidden states
This work empirically evaluates the Taylor rule for the US and Brazil using Markov-Switching Regimes. I find that the inflation parameter of the US Taylor rule is less than one in many periods, contrasting heavily with Clarida, Gal´ı and Gertler (2000), and the same happens with Brazilian data. When...
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| Formato: | article |
| Idioma: | eng |
| Publicado em: |
2014
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| Texto completo: | http://hdl.handle.net/10438/12446 |
| País: | Brasil |
| Oai: | oai:bibliotecadigital.fgv.br:10438/12446 |