Orphanides, Athanasios; Wieland, Volker - House of Finance, Goethe Universität Frankfurt am Main - 2012
state of the economy defines the monetary policy landscape. Using the euro area as laboratory this paper explores the design … models of the euro area confirms the fragility of policy analysis optimized for any specific model and shows the merits of … simple interest rate rule is employed to interpret ECB policy since 1999. An evaluation of alternative policy rules across 11 …