Siklos, Pierre L. (contributor); Bohl, Martin T. (contributor) - 2006 - Rev. Mar 2/07
, there is still considerable inflation divergence (e.g., see Busetti et. al. 2006) and this
may create difficulties in the … practice to evaluate monetary policy based on Taylor rules, a
device that explains central banks’ reactions to inflation and … the output gap. Whereas
inflation performance used to be interpreted through the behavior of consumer prices alone,
more …