References
- Clarida , R. , Gali , J. and Gertler , M. 1998 . Monetary policy rules in practice: some international evidence . European Economic Review , 42 : 1033 – 67 .
- Clarida , R. , Gali , J. and Gertler , M. 2000 . Monetary policy rules and macroeconomic stability: evidence and some theory . Quarterly Journal of Economics , 115 : 147 – 80 .
- Hamilton , J. D . 1989 . A new approach to the economic analysis of nonstationary time series and the business cycle . Econometrica , 57 : 357 – 84 .
- Hamilton , J. D . 1994 . Time Series Analysis , Princeton, NJ : Princeton University Press .
- Kim , C. J and Nelson , C. R . 1999 . State-Space Models with Regime Switching: Classical and Gibbs-Sampling Approaches with Applications , Cambridge and London : MIT Press .
- McCallum , B. T . 1988 . Robustness properties of a rule for monetary policy . Carnegie-Rochester Conference Series on Public Policy , 29 : 173 – 203 .
- McCallum , B. T . 1999 . “ Issues in the design of monetary policy rules ” . In Handbook of Macroeconomics Edited by: Taylor , J. B and Woodford , M. North-Holland, Amsterdam
- McCallum , B. T . Alternative monetary policy rules: a comparison with historical settings for the United States, the United Kingdom, and Japan . NBER Working Paper No. 7725 . 2000 .
- Nelson , E. UK monetary policy 1972–97: a guide using Taylor rules . Bank of England Working Paper No. 120 . 2000 .
- Rudebusch , G. D . 2002 . Term structure evidence on interest rate smoothing and monetary policy inertia . Journal of Monetary Economics , 49 : 1161 – 87 .
- Schmitt-Grohe , S. and Uribe , M. Optimal inflation stabilization in a medium-scale macroeconomic model . NBER Working Paper No. 11854, Central Bank of Chile, Santiago, Chile . 2005 .
- Taylor , J. B . 1993 . Discretion versus policy rules in practice . Carnegie-Rochester Conference Series on Public Policy , 39 : 195 – 214 .
- Taylor , J. B . 1999 . “ A historical analysis of monetary policy rules ” . In Monetary Policy Rules , Edited by: Taylor , J. B . Chicago : University of Chicago Press .
- Walsh , C. E . 2003 . Monetary Theory and Policy , Cambridge and London : MIT Press .