BENATI, LUCA - In: Journal of Money, Credit and Banking 40 (2008) 1, pp. 121-147
We use a Bayesian time-varying parameters structural VAR with stochastic volatility for GDP deflator inflation, real … the Monetary Policy Committee back in time" would only have had a limited impact on the Great Inflation episode, at the …" difference in terms of inflation and output growth outcomes; and (iii) the Great Inflation was due, to a dominant extent, to …