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Standard Taylor rules revisited - A cross country study for European countries

Eschenhof, Sabine :
Standard Taylor rules revisited - A cross country study for European countries.
[Online-Edition: http://tuprints.ulb.tu-darmstadt.de/4730]
In: Darmstadt Discussion Papers in Economics , 196 . Darmstadt
[Report] , (2009)

Offizielle URL: http://tuprints.ulb.tu-darmstadt.de/4730

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
Titel: Standard Taylor rules revisited - A cross country study for European countries
Sprache: Englisch
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.

Reihe: Darmstadt Discussion Papers in Economics
Band: 196
Ort: Darmstadt
Freie Schlagworte: Cross Country Study, Taylor Rules, Exchange Rate, FE Estimation, SGMM Estimation
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: 31 Jan 2016 21:00
Offizielle URL: http://tuprints.ulb.tu-darmstadt.de/4730
URN: urn:nbn:de:tuda-tuprints-47306
Zusätzliche Informationen:

JEL - Classification: C32, E52, F31

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