Hayo, Bernd; Hofmann, Boris - Zentrum für Europäische Integrationsforschung (ZEI), … - 2003
:1-2003:7). The Bundesbank regime can be characterised, both before and after German reunification, by an inflation weight of 1.2 and … to expected inflation, puts significantly more weight on stabilising the business cycle than the Bundesbank did. …We estimate monetary policy reaction functions for the Bundesbank (1979:4-1998:12) and the European Central Bank (1999 …