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John Taylor of Stanford University proposed the following monetary policy rule: R_t - r= m(p_t - p)+nY_r That is, Taylor suggests that monetary policy should increase the real interest rate whenever o
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![PDF] Optimal monetary policy with a regime-switching exchange rate in a forward-looking model | Semantic Scholar](https://d3i71xaburhd42.cloudfront.net/57e5c862c12a5321877e5972631004cd2ff6916c/9-Table1-1.png "PDF] Optimal monetary policy with a regime-switching exchange rate in a forward-looking model | Semantic Scholar")