EBK THE ECONOMICS OF MONEY, BANKING AND
EBK THE ECONOMICS OF MONEY, BANKING AND
4th Edition
ISBN: 9780100668201
Author: Mishkin
Publisher: YUZU
Question
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Chapter 19, Problem 9LO
To determine

The Taylor rule as a hypothetical policy instrument for setting the federal funds rate

Concept Introduction:

Taylor’s Rule: The Taylor rule specifies that the target rate should be equal to the equilibrium real rate, plus the rate of inflation, plus one-half times the output gap, plus one-half times the inflation gap.

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