Anderl, Christina; Caporale, Guglielmo Maria - 2022
, Australia and New Zealand) and others that have only targeted inflation at times (the US, Japan, the Euro Area and Switzerland …This paper examines the usefulness of shadow rates to measure the monetary policy stance by comparing them to the … to provide a more accurate picture of the monetary policy stance during both ZLB and non-ZLB periods, since they reflect …