Charemza, Wojciech W.; Makarov, Svetlana - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2005
The paper proposes a new indicator of expected real effects of a policy aimed at controlling inflation. The indicator, called real effect of inflation targeting (REIT), involves the comparison of expected and output-neutral inflation. It is shown that it can be derived from a simple...
