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. By comparison with the Fed, the ECB followed a more measured course of action. We use an estimated dynamic general … are misleading. We find that - because there is greater inertia in the ECB's policy rule - the ECB's policy actions … out to be only a slowdown, and inflation never departed from levels consistent with the ECB's quantitative definition of …
Persistent link: https://www.econbiz.de/10012776610
. By comparison with the Fed, the ECB followed a more measured course of action. We use an estimated dynamic general … are misleading. We find that - because there is greater inertia in the ECB's policy rule - the ECB's policy actions … out to be only a slowdown, and inflation never departed from levels consistent with the ECB's quantitative definition of …
Persistent link: https://www.econbiz.de/10012465125
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Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity....
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