Adolfson, Malin - Economics Institute for Research (SIR), … - 2001
the
degree of pass-through.
Keywords: Exchange rate pass-through, inflation targeting, interest rate inertia, monetary …-inertial rule (i.e. with no interest rate smoothing). As in
Woodford’s case of interest rate inertia, the reasoning builds on the …-output variability trade-off. In Rogoff’s
‘conservative banker’ case as well as in Woodford’s ‘interest rate inertia’ case, the policy …