Peersman, Gert (contributor); Straub, Roland (contributor) - 2004
adjustment delivers
the following forward looking equation for inflation:
g188
g116
= g175g69(g188
g116+1
)+
g181 1
g193g181
h …/ reaction to inflation g193
g188
1.30
Taylor rule/ smoothing term g189
g114
0.73
The third and fourth column of Figure 1 show …
g188
g59g189
g114
g59g193arerelativelylow,we
will focus on the impact response of output, inflation and real wages by …