The Taylor Rule in Economics: Definition, Formula & Example


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Who created the Taylor rule?

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1. Which organizations and agencies are most likely to use the Taylor rule?

2. What is the main aim of the Taylor rule?

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About This Quiz & Worksheet

Use these study resources to test what you know about who created the Taylor rule and identifying which organizations would be most likely to use this rule.

Quiz & Worksheet Goals

These study resources will guide you to:

  • Recognize the main aim of the Taylor rule
  • Understand the factors upon which it is based
  • Determine the limits of the Taylor rule

Skills Practiced

These study tools will help you to practice the following skills:

  • Critical thinking - apply relevant concepts to examine information about the major limitations of the Taylor rule in a different light
  • Interpreting information - verify that you can read information regarding the factors upon which the Taylor rule is based and interpret it correctly
  • Information recall - access the knowledge you've gained regarding the main aim of the Taylor rule

Additional Learning

These resources correspond to a lesson called The Taylor Rule in Economics: Definition, Formula & Example, which will help you to study this topic. The lesson covers the following:

  • Define GDP
  • Identify the formula behind the Taylor rule
  • Analyze the benefits of the rule