Orphanides, Athanasios (contributor); … - 2003 - [Elektronische Ressource]
interest rate to a change in the inflation rate exceeds unity. We do not find
evidence that policy was inherently destabilizing … Y
t
denote the 1×3 vector consisting of the inflation rate, the unem-
ployment rate, and the federal funds rate, each … inflation rate, the unemploy-
ment rate, and the federal funds rate. In each quarter we reestimated the model using all …