المستودع الأكاديمي جامعة المدينة

The role of the IFO business climate indicator and asset prices in German monetary policy

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dc.creator Sterken, Elmer
dc.date 2004
dc.date.accessioned 2013-10-16T07:01:33Z
dc.date.available 2013-10-16T07:01:33Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/18843
dc.identifier ppn:393367096
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/18843
dc.description We analyze the role of forward-looking indicators, like the IFO business climate indicator and asset prices, in German monetary transmission. We show that the use of both the IFO indicator and asset prices improves the performance and interpretation of a Vector AutoRegression (VAR) model of German monetary transmission. First, we show that the Bundesbank responded more intensively to changes in the IFO indicator than to changes in GDP. Secondly, we address the role of housing and equity prices. We demonstrate that especially housing prices help to give a more accurate description of the recent history of German monetary policy.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1204
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject C82
dc.subject C22
dc.subject C53
dc.subject ddc:330
dc.subject monetary transmission
dc.subject IFO business climate survey indicator
dc.subject house prices
dc.subject equity prices
dc.subject Geschäftsklima
dc.subject Börsenkurs
dc.subject Immobilienpreis
dc.subject Transmissionsmechanismus
dc.subject Geldpolitik
dc.subject Schätzung
dc.subject Deutschland
dc.title The role of the IFO business climate indicator and asset prices in German monetary policy
dc.type doc-type:workingPaper


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