Dufrénot, Gilles; Khayat, Anwar - HAL - 2014
according to the macroeconomic and financial environment in the euro zone. Its policy function is described by a Taylor rule … with regime shifts implying that the stance of reaction to the inflation-gap and output-gap has varied according to the … credit risk in the private and sovereign bond markets, the monetary base and past levels of inflation, output and the shocks …