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dc.contributor.authorSterken, Elmeren_US
dc.date.accessioned2009-01-28T15:53:16Z-
dc.date.available2009-01-28T15:53:16Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/18843-
dc.description.abstractWe analyze the role of forward-looking indicators, like the IFO business climate indicator and asset prices, in German monetary transmission. We show that the use of both the IFO indicator and asset prices improves the performance and interpretation of a Vector AutoRegression (VAR) model of German monetary transmission. First, we show that the Bundesbank responded more intensively to changes in the IFO indicator than to changes in GDP. Secondly, we address the role of housing and equity prices. We demonstrate that especially housing prices help to give a more accurate description of the recent history of German monetary policy.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesCESifo working papers 1204en_US
dc.subject.jelC82en_US
dc.subject.jelC22en_US
dc.subject.jelC53en_US
dc.subject.ddc330en_US
dc.subject.keywordmonetary transmissionen_US
dc.subject.keywordIFO business climate survey indicatoren_US
dc.subject.keywordhouse pricesen_US
dc.subject.keywordequity pricesen_US
dc.subject.stwGeschäftsklimaen_US
dc.subject.stwBörsenkursen_US
dc.subject.stwImmobilienpreisen_US
dc.subject.stwTransmissionsmechanismusen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwSchätzungen_US
dc.subject.stwDeutschlanden_US
dc.titleThe role of the IFO business climate indicator and asset prices in German monetary policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn393367096en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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