Gern, Klaus-Jürgen; Kamps, Christophe; Meier, … - 2003
implied by the standard Taylor rule, even when low estimates of the current size of the output gap and the equilibrium real … the ECB should bring the real interest rate back towards the long-run average once the depressing factors will have … global political situation calms down afterwards, dampening factors from the Iraq conflict are expected to wane. Impulses …