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Le, Mai Vo
Gillman, Max
Minford, Patrick
Year of Publication: 
Series/Report no.: 
Cardiff Economics Working Papers E2007/29
The paper derives a Taylor condition as part of the agentís equilibrium behavior in an endogenous growth monetary economy. It shows the assumptions necessary to make it almost identical to the original Taylor rule, and that it can interchangably take a money supply growth rate form. From the money supply form, simple policy experiments are conducted. A full central bank policy model is derived that includes the Taylor condition along with equations comparable to the standard aggregate-demand/aggregate-supply model.
Document Type: 
Working Paper

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