Anderl, Christina; Caporale, Guglielmo Maria - 2023
, especially negative ones, have a stronger impact on inflation than OPU ones and capture some of the monetary policy uncertainty … inflation by using a Nonlinear ARDL (NARDL) model, which is compared to a benchmark linear ARDL one. Using monthly data from the …, thereby reducing the direct effect of interest rate changes on inflation. Since EPU shocks reflect, at least to some extent …