Florio, Anna - In: CESifo economic studies : CESifo, a joint initiative of … 59 (2013) 4, pp. 650-675
consumption. The central bank'™s interest rate target is found to differ significantly from the implied consumer Euler rate thus …, and for the external finance premium in particular, analyzing US data for the Greenspan period. This supports the recent … view (see Curdia and Woodford (2010)) that calls central banks to target credit spreads. …
