For example some demand shocks might require a quick response by the monetary authority in order to guarantee price stability. A solution to this problem consists in using a broader definition of a policy rule. Taylor gives the example of patent laws. If an inventor obtains a patent, he has the right to exploit a certain principle for a couple of years.
The details of the invention are not subject to the patent. In a similar way, a policy rule can be understood as a set of objectives and targets subject to which the monetary authority takes its decisions.