EUにおけるテーラールール適用の是非

ユーロ圏における実証分析

抄録

The validity of the Taylor rule in the entire EU is discussed including a theoretical, empirical analysis using many examples. However, an analysis of individual countries are hardly done. We show that it is generally pertinent for the entire EU though the rule does not apply to each country.
Along with the introduction of a common currency realized in Europe for 11 participating in the shape of participation of 11 countries, a lot of discussions as to the monetary policy have been performed. The thesis which Taylor (1993) introduced has been debated at many chances. Some economists say it would be profitable to apply this rule to the real economy. First of all, a comparatively small model is used. Next, the movement of interest rates are is explained only by inflation and output gap. Finally, using the rule known to everyone may help reduce uncertainty about the stance of monetary policy and avoid instability of the policy. The validity of the Taylor rule in the entire EU is discussed with a theoretical, empirical analysis using many examples in a lot of opportunities. However, the analysis of individual coutries is hardly done. We show that it is generally roughly pertinent for in the entire EU though the its rule does not apply to correspond in each country.
We found that it would be generally pertinents for the entire EU though the rule does not apply to correspond in each country. In the EU unified monetary policy would be going on, so it would be an appropriate instrument for using the Taylor rule. This is one area where the Taylor rule is applicable. Its rule has been appropriate to this area.