The Two Pillars of the European Central Bank

I interpret the European Central Bank's two-pillar strategy by proposing an empirical model for inflation that distinguishes between the short- and long-run components of inflation. The latter component depends on an exponentially weighted moving average of past monetary growth and the former o...

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Veröffentlicht in:	Economic policy 2004-10, Vol.19 (40), p.391-439
Hauptverfasser:	Gerlach, Stefan, Browne, Frank, Honohan, Patrick
Format:	Artikel
Sprache:	eng
Schlagworte:	Anticipated inflation Central banks Economic growth models Economic growth rate Economic indicators Economic inflation Economic models Economic policy Euro Zone European Central Bank Inflation Inflation rates Monetary policy Output gaps Studies
Online-Zugang:	Volltext
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