Owyang, Michael T. (contributor); … - 2003 - [Elektronische Ressource]
traditional policy responses to macroeconomic developments in real GDP, inflation, and interest
rates. But in one scenario …, Clarida, Gali,
and Gertler argue that a change in the inflation weight in the Fed's post-1982 Taylor rule has
resulted in a … high as indicated by the full sample.
There also appears to be an inflation-expectations response during the Volcker …