01615cas a2200253 a 4500 AALejournalIMF006253 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451962291 1018-5941 BD-DhAAL BD-DhAAL Choi, Woon. Dissecting Taylor Rules in a Structural VAR / Woon Choi, Yi Wen. Washington, D.C. : International Monetary Fund, 2010. 1 online resource (27 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper uncovers Taylor rules from estimated monetary policy reactions using a structural VAR on U.S. data from 1959 to 2009. These Taylor rules reveal the dynamic nature of policy responses to different structural shocks. We find that U.S. monetary policy has been far more responsive over time to demand shocks than to supply shocks, and more aggressive toward inflation than output growth. Our estimated dynamic policy coefficients characterize the style of policy as a "bang-bang" control for the pre-1979 period and as a gradual control for the post-1979 period. Mode of access: Internet Wen, Yi. IMF Working Papers; Working Paper ; No. 2010/020 Full text available on IMF http://elibrary.imf.org/view/journals/001/2010/020/001.2010.issue-020-en.xml IMF e-Library