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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Bibliographic Details
Main Author: Bueno, Rodrigo de Losso da Silveira (author)
Format: article
Language:eng
Published: 2014
Subjects:
Markov switching regimes
Hidden states
Taylor rule
Economia
Política monetária
Online Access:http://hdl.handle.net/10438/12446
Country:Brazil
Oai:oai:bibliotecadigital.fgv.br:10438/12446

Internet

http://hdl.handle.net/10438/12446

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