Provide values for the taylor rule equation given on page, Microeconomics

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Provide values for the taylor rule equation given on page

Glenn Rudebusch, an economist at the Federal Reserve Bank of San Francisco, argues that if the Fed had followed the Taylor rule during the recession of 2007-2009, then by the end of 2009 the target for the federal funds rate would have been -5 percent. Provide values for the Taylor rule equation given on page 875 that would result in a negative target for the federal funds rate. Is it possible for the federal funds rate to be negative?

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Microeconomics: Provide values for the taylor rule equation given on page

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