Monetary Policy Rules in Practice: Evidence from New Zealand

  title={Monetary Policy Rules in Practice: Evidence from New Zealand},
  author={Angela Huang and Dimitris Margaritis and David T. Mayes},
We use the ten years of experience in inflation-targeting in New Zealand since 1989 to test whether monetary policy appears to conform to the simple rules that have been recommended for it in the literature. Of the inflation targeting central banks, the Reserve Bank of New Zealand has both the longest experience and probably the most clearly defined target and policy framework for achieving it. We show that while a Taylor rule with the standard parameters used in the US does indeed describe New… CONTINUE READING

Figures, Tables, and Topics from this paper.


Publications referenced by this paper.

Reserve Bank of New Zealand Monetary Policy and the New Zealand Monetary Financial System, (3rd edn.) Wellington: Reserve Bank of New Zealand

  • Wong, A. J. – Grimes
  • 1992
2 Excerpts

A Study of Economic Reform: the case of New Zealand

  • Bowden, B. R. – O’Donovan
  • 1966
2 Excerpts

Similar Papers

Loading similar papers…