Author's Accepted Manuscript Should monetary policy lean against the wind? Leonardo Gambacorta, Federico M. Signoretti PII: S0165-1889(14)00027-X DOI: http://dx.doi.org/10.1016/j.jedc.2014.01.016 Reference: DYNCON2945 To appear in: Journal of Economic Dynamics & Control Received date: 29 March 2013 Revised date: 18 October 2013 Accepted date: 9 January 2014 Cite this article as: Leonardo Gambacorta, Federico M. Signoretti, Should monetary policy lean against the wind?, Journal of Economic Dynamics & Control, http://dx.doi.org/10.1016/j.jedc.2014.01.016 This is a PDF file of an unedited manuscript that has been accepted for publication. As a service to our customers we are providing this early version of the manuscript. The manuscript will undergo copyediting, typesetting, and review of the resulting galley proof before it is published in its final citable form. Please note that during the production process errors may be discovered which could affect the content, and all legal disclaimers that apply to the journal pertain. www.elsevier.com/locate/jedc