Lafuente, Juan Angel; Monfort, Mercedes; Pérez, Rafaela; … - In: Economics / Journal articles : the open-access, … 15 (2021) 1, pp. 150-162
This article provides an estimation method to decompose monetary policy innovations into persistent and transitory components using the nonlinear Taylor rule proposed in Andolfatto, Hendry, and Moran (2008) [Are inflation expectations rational? Journal of Monetary Economics , 55 , 406-422]. To...
