Christou, ChristinaNaraidoo, RuthiraGupta, RanganKim, Won Joong2018-09-132018Christina Christou, Ruthira Naraidoo, Rangan Gupta & Won Joong Kim (2018) Monetary Policy Reaction Functions of the TICKs: A Quantile Regression Approach, Emerging Markets Finance and Trade, 54:15, 3552-3565, DOI: 10.1080/1540496X.2017.1422429.1540-496X (print)1558-0938 (online)10.1080/1540496X.2017.1422429http://hdl.handle.net/2263/66552This study investigates how Taiwan, India, China, and Korea (TICKs) set interest rates in the context of policy reaction functions using a quantile-based approach. Our results indicate the tendency of a milder response to inflation at low interest rates and greater response at higher quantiles of interest rates, where inflation is presumably higher than desired for China and South Korea. While the response to inflation over the quantiles is significant for India, yet the Taylor principle is less likely to hold. For Taiwan, the results imply that another instrument is employed to deal with its official managed floating currency.en© Taylor & Francis Group, LLC. This is an electronic version of an article published in Emerging Markets Finance and Trade, vol. 54, no. 15, pp. 3552-3565, 2018. doi : 10.1080/1540496X.2017.1422429. Emerging Markets Finance and Trade is available online at : http://www.tandfonline.com/loi/mree20.Emerging marketsMonetary policyQuantile regressionTaylor ruleTaiwan, India, China, and Korea (TICKs)Postprint Article