Beyer, Andreas; Gaspar, Vítor; Gerberding, Christina - 2009
to the level of the output gap was not significant. In our empirical analysis we use real-time data, as available to … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …. In contrast, the response to the level of the output gap was not
significant. In our empirical analysis we use real …