This article corrects:

  1. The Taylor Rule and “Opportunistic” Monetary Policy Volume 42, Issue 5, 931–949, Article first published online: 15 July 2010

Bunzel, Helle, and Walter Enders. (2010) “The Taylor Rule and “Opportunistic” Monetary Policy.” Journal of Money, Credit and Banking, 42, 931–949.

DOI: 10.1111/j.1538-4616.2010.00313.x

The authorship of Rudebusch (1996)—and the views expressed therein—was incorrectly attributed to the Federal Reserve Bank of San Francisco. As noted in Rudebusch (1996), the views expressed do not necessarily reflect the views of the management of the Federal Reserve Bank of San Francisco or of the Board of Governors of the Federal Reserve System.

The corrected text on page 942 should read:

Consider Rudebusch's (1996) description of opportunistic disinflation:

An opportunistic monetary strategy also assumes an ultimate target of price stability and distinguishes an interim inflation target from the ultimate one. However, except when inflation is high, the opportunistic policymaker's interim inflation target is simply the current rate of inflation. Thus, the opportunistic strategy eschews deliberate action to reduce inflation, but instead waits for unforeseen but favorable price surprises to reduce inflation. (Rudebusch 1996)

The corrected reference should read: