Over the years, central banks all over the world have on numerous occasion been the subjects of criticism. Poor economic performance or a failure to implement a successful policy justified the voices of some critics, who, in an effort to boost the performance of a central bank, argued that some policy rule, not necessarily absolutely perfect, would have delivered a far better outcome. This work addresses the issue of monetary policy conduct. It deals with the use of monetary policy rules in a decision-making process of monetary policymakers with the focus on the Taylor rule which is a...
Over the years, central banks all over the world have on numerous occasion been the subjects of criticism. Poor economic performance or a failure to i...