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What does “below, but close to, two percent” mean? Assessing the ECB’s reaction function with real time data
(05.10.2017)
Bank of Finland Research Discussion Papers 29/2017
Bank of Finland Research Discussion Papers 29/2017
We estimate the ECB’s monetary policy reaction function by using real time Eurosystem/ECB staff macroeconomic projection data, which are presented to the ECB’s Governing Council when it assesses the monetary policy stance ...