Monetary Frameworks and Institutional Constraints: UK Monetary Policy Reaction Functions, 1985-2003.
Monetary policy reaction functions are estimated for the UK over three periods--1985-90, 1992-97 and 1997-2003--in order to disentangle two effects: the switch from an emphasis on exchange rate stabilization to inflation targeting, and the introduction of instrument-independence in 1997. The externa...
| Hoofdauteurs: | , , |
|---|---|
| Formaat: | Journal article |
| Gepubliceerd in: |
2005
|