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Ramon Maria-Dolores
''Monetary Policy Rules In Accession Countries to EU: Is the Taylor rule a pattern?''
( 2005, Vol. 5 No.7 )
I contemplate the Taylor rule as a benchmark for setting monetary policy in some Accession Countries to the EU in the 1998-2003 period. I find that countries with a floating exchange rate regime (the Czech Republic, Poland and Hungary) moved short-term interest rates as suggested by the Taylor rule and in a similar way the ECB is doing. On the other hand, the Taylor rule predicts worse interest rate behaviour in the Slovak Republic where inflation targeting is not adopted yet.
Keywords: inflation targeting
JEL: E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit: General
C2 - Single Equation Models; Single Variables: General
Manuscript Received : Nov 25 2004 Manuscript Accepted : Sep 15 2005

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