A Historical Analysis of the Taylor Curve

Material TypeArticleLanguageEnglish
TitleA Historical Analysis of the Taylor Curve Author(S)ERIC OLSON (Author)
Abstract  Taylor (1979) shows that there is a permanent trade-off between the volatilities of the output gap and inflation. Although a number of papers argue that the so-called Taylor curve is a policy menu, we use it as an efficiency locus to gauge the appropriateness of monetary policy. We examine the efficiency of U.S ...Paginationp1285–1299
SubjectEconomicsDescriptorsEconomics
Journal TitleJournal of Money, Credit, and Banking  
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