| dc.creator |
Ruth, Karsten |
|
| dc.date |
2004 |
|
| dc.date.accessioned |
2013-10-16T07:05:18Z |
|
| dc.date.available |
2013-10-16T07:05:18Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/19500 |
|
| dc.identifier |
ppn:473007118 |
|
| dc.identifier |
RePEc:zbw:bubdp1:2299 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/19500 |
|
| dc.description |
As of today, estimating interest rate reaction functions for the Euro Area is hampered by the short time span since the conduct of a single monetary policy. In this paper we circumvent the common use of aggregated data before 1999 by estimating interest rate reaction functions based on a panel including actual EMU Member States. We find that exploiting the cross-section dimen- sion of a multi-country panel and accounting for cross-country heterogeneity in advance of the single monetary policy pays off with regard to the estimated reaction functions' ability to describe actual interest rate dynamics. We retrieve a panel reaction function which is demonstrated to be a valuable tool for evaluating episodes of monetary policy since 1999. |
|
| dc.language |
eng |
|
| dc.relation |
Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,33 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
E43 |
|
| dc.subject |
E58 |
|
| dc.subject |
C33 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Monetary Policy |
|
| dc.subject |
Reaction Function |
|
| dc.subject |
Euro Area |
|
| dc.subject |
Panel Data |
|
| dc.subject |
Zinspolitik |
|
| dc.subject |
Geldpolitik |
|
| dc.subject |
Reaktionsfunktion |
|
| dc.subject |
Panel |
|
| dc.subject |
Europäische Wirtschafts- und Währungsunion |
|
| dc.subject |
Schätzung |
|
| dc.subject |
EU-Staaten |
|
| dc.title |
Interest rate reaction functions for the euro area Evidence from panel data analysis |
|
| dc.type |
doc-type:workingPaper |
|