On the Perils of Taylor Rules
In the Seven Faces of “The Peril” (2010), St. Louis Fed president Jim Bullard speculated on the prospect of the U.S. falling into a Japanese-style deflationary outcome. His analysis was built on an insight of Benhabib, Schmitt-Grohe, and Uribe (2001) in The Perils of Taylor Rules. These authors (BSU) showed that if monetary policy is conducted according to a Taylor rule, [...] View the full post at: On the Perils of Taylor Rules Related posts: Lessons, Rules and Ideas in the Aftermath of the Global Economic Crisis (Part II) When the Normal Rules are Turned Upside Down Battling Bubbles and Crashes
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