我对于Taylor Rule公式记忆没问题,但是对于公式项出现的名字需要老师再帮忙梳理一下。
1.是否考试也会换一种说法,而不是直接写"neutral rate"?
2. 本题中出现了如下几个说法
1)The central bank’s last official statement identified 2.5% as the appropriate real rate, assuming no other factors.
2)Based on Taylor’s rule, with an assumption of equal weights applied to forecast versus trend measures, the short-term rate is expected to increase from the current 1.23%
3)题目中的estimated optimal short-term real rate
我的问题是我应该如何把这些和书里的公式对号入座呢?
1. 原版书里的解释neutral rate = real policy rate that would be targeted if growth is expected to be at trend and inflation on target,这里相当于是把这句话等同了1),所以看到appropriate real rate = neutral rate吗?
2. 另外问题这个optimal short-term real rate说法我也很困惑,是optimal short-term real rate=target nominal policy rate这样等同吗?因为本题解答求的就是这个target nominal policy rate
3. 我是否可以理解neutral rate一定是一个给定的数据,不会让你反算的,所以考到taylor rule一定是去求target nominal policy rate的?所以本题唯一要分辨的就是那个1.23%其实是个无用信息,不要代入公式? 这个1.23%我应该如何理解呢?