A Horse Race among the Alternative Taylor Rule Specification

The paper estimates a slew of augmented Taylor rule specifications using call and treasury bill rates. After accounting for break points, we calculate the output gap based on a single-index dynamic factor extracted from monthly high-frequency indicators that are representative of broad sectoral activity. In our study, we found that interest rates in India are mostly in line

Related Keywords

India , United States , New Delhi , Delhi , American , Johnb Taylor , Piotr Eliasz , Abdurrahman Nazif , Mark Gertler , Guglielmo Maria , Mohamad Husam Helmi , Faek Menla Ali , Saurabh Ghosh , Jean Boivin , Jordi Gal , Joice John , Glennd Rudebusch , Ramkishens Rajan , Pratik Mitra , Asian Development , Monetary Policy , Reserve Bank , Indian Economy , Different Taylor Rule , Factor Augmented Vector Autoregressive , Quarterly Journal , Dynamic Factor Model , Coincident Economic Indicator , Asian Development Review , Policy Rules , Emerging Countries , Augmented Nonlinear Taylor , Economic Modelling , Economy Inflation Targeting Arrangements , Monetary Policy Rules , Indian Growth , Development Review , New Keynesian Perspective , Economic Literature , Structural Econometric Analysis , Monetary Economics , Economic Review , Government Securities , Policy Behaviour , Taylor Type Policy Frameworks , India Staff Studies , Public Policy , Limit Policies , Output Gap , Optimal Monetary Policy , American Economic Review ,