Fratzscher, Marcel; Juvenal, Luciana; Sarno, Lucio - Federal Reserve Bank of St. Louis - 2008
Zettelmeyer and seminar participants at
the ECB, IMF, Board of Governors of the Federal Reserve System, Bank of England … restrictions stems from the perspective of a monetary
policy reaction function: an appreciation should reduce import prices and … bias. One interpretation of the interest rate response is that it is in line with a monetary
policy reaction function �in …