Belke, Ansgar; Klose, Jens - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
effects can influence the reaction to inflation and the output gap either way, we use a more clear-cut approach to disentangle … estimated inflation coefficients while the opposite is true for the output gap coefficients. If real time data forecasts for the … sense of even increasing the inflation response but lowering the reaction to the output gap while the reverse is true if …