Caporale, Guglielmo Maria; Onorante, Luca; Paesani, Paolo - CESifo - 2009
reversed, and that in the euro period the Friedman-Ball link is empirically supported, implying that the ECB can achieve lower … euro area, and investigates the linkages between them in a VAR framework, also allowing for the possible impact of the … policy regime change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and …