国际清算银行：有针对性的泰勒规则：一些证据和理论（英文版）

Monetary theory and central bank doctrine generally prescribe a forceful reaction to demand-driven inflation and an attenuated response, if any, to supply-driven inflation. The Taylor–type rules used so far to describe central banks’ reaction functions assume instead a uniform response of policy rates to inflation irrespective of its drivers. In this paper, we refine the specification of these monetary policy rules to allow for a different (targeted) reaction to demand- versus supply-driven i