Federal Reserve Bank of Cleveland
Policy rules in macroeconomic forecasting models
This Commentary describes how some of the Cleveland Fed’s macroeconomic forecasting models have been modified to use a Taylor rule for monetary policy. After briefly describing the Taylor rule implementation, the article shows that the Taylor rule included in one of our models successfully captures the course of monetary policy in the most recent episode of policy tightening.
Cite this item
Todd E. Clark, "Policy rules in macroeconomic forecasting models"
, Federal Reserve Bank of Cleveland, Economic Commentary, issue Oct, 2012.
Keywords: Taylor's rule ; Monetary policy ; Macroeconomics ; Forecasting
This item with handle RePEc:fip:fedcec:y:2012:i:oct12:n:2012-16
is also listed on EconPapers
For corrections, contact 4D Library ()