| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w9421 |
| 来源ID | Working Paper 9421 |
| What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules | |
| Lars E. O. Svensson | |
| 发表日期 | 2003-01-06 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | It is argued that inflation targeting is best understood as a commitment to a targeting rule rather than an instrument rule, either a general targeting rule (explicit objectives for monetary policy) or a specific targeting rule (a criterion for (the forecasts of) the target variables to be fulfilled), essentially the equality of the marginal rates of transformation and substitution between the target variables. Targeting rules allow the use of judgment and extra-model information, are more robust and easier to verify than optimal instrument rules, and they can nevertheless bring the economy close to the socially optimal equilibrium. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w9421 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567040 |
| 推荐引用方式 GB/T 7714 | Lars E. O. Svensson. What is Wrong with Taylor Rules? Using Judgment in Monetary Policy through Targeting Rules. 2003. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w9421.pdf（659KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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