Taylor Rules for the UK economy under different monetary regimes - Kourakis, Vasileios
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This document analyses whether the policy maker behaves differently under various monetary policy regimes which is reflected by a change in the coefficient of the Taylor rule. The estimated value of the coefficients, given the chosen monetary targets, will also help us characterise whether the Bank of England was more or less active according to the Taylor rule framework. In addition, attempt will be made to explain whether the empirical results are expected or not, according to the observed monetary regime. Moreover, this analysis compares the results of the different estimation techniques…mehr

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Produktbeschreibung
This document analyses whether the policy maker behaves differently under various monetary policy regimes which is reflected by a change in the coefficient of the Taylor rule. The estimated value of the coefficients, given the chosen monetary targets, will also help us characterise whether the Bank of England was more or less active according to the Taylor rule framework. In addition, attempt will be made to explain whether the empirical results are expected or not, according to the observed monetary regime. Moreover, this analysis compares the results of the different estimation techniques used to identify the sensitivity of the central bank on inflation and output gap and lastly we discuss the relative appropriateness of each technique given their underlying assumptions.
Autorenporträt
Vasileios has graduate with a distinction in Economics from the University of Crete. He has also obtained an MSc in Economics from Birkbeck College, University of London and an M.Phil in Economics from University of Oxford. He has since then been working in the field of Marketing Mix Modelling. He is currently a Manager at Mediacom, London.