Eschenhof, Sabine (2009)
Standard Taylor rules revisited - A cross country study for European countries.
Report, Bibliographie
Kurzbeschreibung (Abstract)
In this paper we want to estimate basic Taylor rules with a cross country study approach for European countries before the reorganization of the system of central banks. We compare basic and extended Taylor rules to give a hint if the exchange rate plays a significant role in the decision making of monetary policy. Fixed Effects, GMM and SGMM estimators are used to check for robustness. The obtained results adumbrate that there may be an influence of exchange rate changes on the monetary policy decision making process but the results are not fully robust and deliver only a weak tendency.
| Typ des Eintrags: | Report |
|---|---|
| Erschienen: | 2009 |
| Autor(en): | Eschenhof, Sabine |
| Art des Eintrags: | Bibliographie |
| Titel: | Standard Taylor rules revisited - A cross country study for European countries |
| Sprache: | Englisch |
| Publikationsjahr: | Dezember 2009 |
| Ort: | Darmstadt |
| Reihe: | Darmstadt Discussion Papers in Economics |
| Band einer Reihe: | 196 |
| URL / URN: | http://econstor.eu/bitstream/10419/43136/1/629761957.pdf |
| Kurzbeschreibung (Abstract): | In this paper we want to estimate basic Taylor rules with a cross country study approach for European countries before the reorganization of the system of central banks. We compare basic and extended Taylor rules to give a hint if the exchange rate plays a significant role in the decision making of monetary policy. Fixed Effects, GMM and SGMM estimators are used to check for robustness. The obtained results adumbrate that there may be an influence of exchange rate changes on the monetary policy decision making process but the results are not fully robust and deliver only a weak tendency. |
| Freie Schlagworte: | Cross Country Study, Taylor Rules, Exchange Rate, FE Estimation, SGMM Estimation |
| Zusätzliche Informationen: | JEL - Classification: C32, E52, F31 |
| Fachbereich(e)/-gebiet(e): | 01 Fachbereich Rechts- und Wirtschaftswissenschaften 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete 01 Fachbereich Rechts- und Wirtschaftswissenschaften > Volkswirtschaftliche Fachgebiete > Fachgebiet Wirtschaftstheorie |
| Hinterlegungsdatum: | 14 Jan 2010 14:24 |
| Letzte Änderung: | 03 Jun 2018 21:23 |
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