KAM, TIMOTHY; LEES, KIRDAN; LIU, PHILIP - In: Journal of Money, Credit and Banking 41 (2009) 4, pp. 583-618
We estimate underlying structural macroeconomic policy objectives of three of the earliest explicit inflation targeters within the context of a small open economy dynamic stochastic general equilibrium model. We assume central banks set policy optimally, such that we can reverse engineer policy...