Eschenhof, Sabine (2009)
Comparing Monetary Policy Rules in a Small Open Economy Framework: An Empirical Analysis Using Bayesian Techniques.
Report, Bibliographie
Kurzbeschreibung (Abstract)
This paper examines the role of exchange rate changes in the monetary policy for the Euro Area. Moreover, it compares different Taylor-type policy rules with respect to the numerical results as well as the impulse responses to exogenous shocks and the fit of the different data model specifications when using the underlying data. Overall, a monetary policy rule which includes the expected inflation rate as well as the output gap performs best and supports a possible role of exchange rate changes in the Euro Area's monetary policy.
| Typ des Eintrags: | Report |
|---|---|
| Erschienen: | 2009 |
| Autor(en): | Eschenhof, Sabine |
| Art des Eintrags: | Bibliographie |
| Titel: | Comparing Monetary Policy Rules in a Small Open Economy Framework: An Empirical Analysis Using Bayesian Techniques |
| Sprache: | Englisch |
| Publikationsjahr: | Dezember 2009 |
| Ort: | Darmstadt |
| Reihe: | Darmstadt Discussion Papers in Economics |
| Band einer Reihe: | 197 |
| Kurzbeschreibung (Abstract): | This paper examines the role of exchange rate changes in the monetary policy for the Euro Area. Moreover, it compares different Taylor-type policy rules with respect to the numerical results as well as the impulse responses to exogenous shocks and the fit of the different data model specifications when using the underlying data. Overall, a monetary policy rule which includes the expected inflation rate as well as the output gap performs best and supports a possible role of exchange rate changes in the Euro Area's monetary policy. |
| Freie Schlagworte: | Bayesian Estimation, Small Open Economy, Monetary Policy, Taylor Rule |
| Zusätzliche Informationen: | JEL - Classification: C11, E52, F41 |
| 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 14:25 |
| Letzte Änderung: | 03 Jun 2018 21:23 |
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