Orphanides, Athanasios; Wieland, Volker - In: International Journal of Central Banking 9 (2013) 1, pp. 167-204
simple interest rate rule is employed to interpret ECB policy since 1999. An evaluation of alternative policy rules across … and output growth as the one used to interpret ECB policy is quite robust as long as it responds to current outcomes of … state of the economy defines the monetary policy landscape. Using the euro area as a laboratory, this paper explores the …