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Monetary policy rules and U.S. monetary policy

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  • H. Atesoglu

Abstract

An inflation-augmented Atesoglu monetary policy rule is introduced. The Atesoglu rule is based on an estimate of the neutral rate of interest of Keynes. Actual Fed monetary policy and policy implied by Atesoglu rules are compared. During the 1994:2-2006:4 period, monetary policy suggested by the inflation-augmented Atesoglu rule is closer to that indicated by the Atesoglu rule rather than the actual Fed monetary policy. Findings reveal that the monetary policy implied by the Atesoglu rules has been less restrictive and less volatile than the actual Fed monetary policy.

Suggested Citation

  • H. Atesoglu, 2008. "Monetary policy rules and U.S. monetary policy," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 30(3), pages 403-408.
    • Handle: RePEc:mes:postke:v:30:y:2008:i:3:p:403-408
    DOI: 10.2753/PKE0160-3477300305
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    Cited by:

    1. Emiliano Brancaccio & Giuseppe Fontana, 2013. "'Solvency rule' versus 'Taylor rule': an alternative interpretation of the relation between monetary policy and the economic crisis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 37(1), pages 17-33.

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