Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
965526 | Journal of Macroeconomics | 2012 | 10 Pages |
Abstract
⺠Inflation-gap persistence is a function of the policy weights in the Taylor rule. ⺠Inflation-gap follows an autoregressive process of order one. ⺠Increasing the weight on inflation reduces persistence. ⺠Increasing the weight on output gap increases persistence. ⺠Changes in US monetary policy explain changes in inflation-gap persistence.
Related Topics
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Economics and Econometrics
Authors
Christian Conrad, Thomas A. Eife,