Constant-Interest-Rate Projections and Its Indicator Properties

Borradores de Economia
Número: 
696
Publicado: 
Clasificación JEL: 
E37, E47, E52
Palabras clave: 
Monetary policy, constant-interest-rate projections, modest policy interventions, Inflation Targeting

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This paper propose indicator variables for the implementation of monetary policy in an inflation targeting regime. Using constant interest rate projections, the notion of a target-compatible interest rate is presented. This variable allows to extract some