Juselius, Mikael (contributor) - 2008
the information used by Barkbu
and Batini (2005) captures the main features of the inflation process (see discussion
by … interest, a New Keynesian Phillips curve that relates inflation to real marginal
costs, and a central bank policy rule for the … rate smoothing
Taylor rule
it = 1it 1 + (1 1) ( 2 ( pt p ) + 3~yt + 4xt)
where p is a constant inflation target (e …