The Taylor rule and interest rates in the EMU area
Economics LettersPublished 1 May 2000
Stefan Gerlach, Gert Schnabel
Citations266
SJR quartileQ2
SJR score0.76
SNIP0.98
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Abstract
We demonstrate that average interest rates in the EMU countries in 1990–98, with the exception of the period of exchange market turmoil in 1992–93, moved very closely with average output gaps and inflation as suggested by the Taylor rule.
Keywords
Economics, Econometrics and Finance
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