We examine the evolution of monetary policy rules in a group of inflation targeting countries (Australia, Canada, New … Zealand, Sweden and the United Kingdom), applying a moment-based estimator in a time-varying parameter model with endogenous … high inflation, such as in the UK or Australia at the beginning of the 1980s. Contrary to common wisdom, the response …

output for the Euro area, the United States, Sweden, Australia, and the United Kingdom. Particular attention is paid to time … United States, and especially for the Euro area, and smaller for Australia and the United Kingdom. Overall, natural rate …