Does money matter in the ECB strategy? : New evidence based on ECB communication

dc.creator	Berger, Helge
dc.creator	de Haan, Jakob
dc.creator	Sturm, Jan-Egbert
dc.date	2006
dc.date.accessioned	2013-10-16T07:02:59Z
dc.date.available	2013-10-16T07:02:59Z
dc.date.issued	2013-10-16
dc.identifier	http://hdl.handle.net/10419/19116
dc.identifier	ppn:510015271
dc.identifier.uri	http://koha.mediu.edu.my:8181/xmlui/handle/10419/19116
dc.description	We examine the role of money in the policies of the ECB, using introductory statements of the ECB President at the monthly press conferences during 1999-2004. Over time, the relative amount of words devoted to the monetary analysis has decreased. Our analysis of indicators of the monetary policy stance suggests that developments in the monetary sector, while somewhat more important in the later half of the sample, only played a minor role most of the time. Our estimates of ECB interest rate decisions suggest that the ECB?s words (monetary-sector based policy intensions) are not an important determinant of its actions.
dc.language	eng
dc.publisher
dc.relation	CESifo working papers 1652
dc.rights	http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject	E52
dc.subject	E58
dc.subject	E43
dc.subject	ddc:330
dc.subject	ECB
dc.subject	communication
dc.subject	monetary policy
dc.subject	Geldpolitik
dc.subject	Publikationsanalyse
dc.subject	Staatliche Information
dc.subject	EU-Staaten
dc.subject	European Central Bank
dc.title	Does money matter in the ECB strategy? : New evidence based on ECB communication
dc.type	doc-type:workingPaper

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