Blattner, Tobias; Margaritov, Emil - 2010
-trivial implications for the prescriptions borne from these rules. This paper addresses this issue for the euro area using a new … comprehensive real-time database for the euro area and examines the ECB’s past interest-rate setting behaviour in two complementary … historical evolution of euro area monetary policy. We also find that the ECB is neither purely backward nor forward-looking, but …