Anderl, Christina; Caporale, Guglielmo Maria - 2023
This paper assesses time variation in monetary policy rules by applying a Time-Varying Parameter Generalised Methods of …, Australia, New Zealand, Sweden) and five countries with alternative monetary regimes (the US, Japan, Denmark, the Euro Area …, Switzerland), we find that monetary policy has become more averse to inflation and more responsive to the output gap in both sets …