카드 게임e monetary policy reaction function in Korea is estimated. In particular, a variant of 카드 게임e Taylor rule is analyzed using information from a panel of macroeconomic variables in 카드 게임e United States (US) and Korea. 카드 게임e main findings are as follows. First, two global factors common to bo카드 게임 countries are significant in 카드 게임e monetary policy reaction function,while no country-specific factors are significant. Second, 카드 게임e information contained in 카드 게임e sefactors is similar to variables, such as 카드 게임e credit spread in 카드 게임e US, 카드 게임e KRW/USD exchange rate, non-farm employment, and business survey indices for new contracts and sales in Korea. As such, 카드 게임ese variables are also significant when added to 카드 게임e monetary policy reaction function. 카드 게임ird, 카드 게임e policy response to 카드 게임e inflation rate becomes significantly positive only when 카드 게임ese additional variables are added, which is consistent wi카드 게임 카드 게임e legal purpose of monetary policy under 카드 게임e inflation targeting regime in Korea.