TU Darmstadt / ULB / TUbiblio

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

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

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.

Item Type: Report
Erschienen: 2009
Creators: Eschenhof, Sabine
Title: Standard Taylor rules revisited - A cross country study for European countries
Language: English
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.

Series Name: Darmstadt Discussion Papers in Economics
Volume: 196
Place of Publication: Darmstadt
Uncontrolled Keywords: Cross Country Study, Taylor Rules, Exchange Rate, FE Estimation, SGMM Estimation
Divisions: 01 Department of Law and Economics
01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete
01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete > Economic Theory
Date Deposited: 31 Jan 2016 21:00
Official URL: http://tuprints.ulb.tu-darmstadt.de/4730
URN: urn:nbn:de:tuda-tuprints-47306
Additional Information:

JEL - Classification: C32, E52, F31

Export:

Optionen (nur für Redakteure)

View Item View Item