Benigno, Pierpaolo; López-Salido, David - Federal Reserve Board (Board of Governors of the … - 2002
-of-trade shocks under four monetary policy rules: fully optimal, optimal inflation targeting, HICP targeting and output gap …In this paper we first present supporting evidence of the existence of heterogeneity in inflation dynamics across euro … there is significant inertial (backward looking) behavior in inflation in four of them, while inflation in Germany has a …