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Deutsche Bundesbank, Forschungszentrum, Frankfurt am Main >
Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/19500
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Ruth, Karsten | | en_US |
| dc.date.accessioned | | 2009-01-28T15:59:00Z | | - |
| dc.date.available | | 2009-01-28T15:59:00Z | | - |
| dc.date.issued | | 2004 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/19500 | | - |
| dc.description.abstract | | As of today, estimating interest rate reaction functions for the Euro Area is hampered by the short time span since the conduct of a single monetary policy. In this paper we circumvent the common use of aggregated data before 1999 by estimating interest rate reaction functions based on a panel including actual EMU Member States. We find that exploiting the cross-section dimen- sion of a multi-country panel and accounting for cross-country heterogeneity in advance of the single monetary policy pays off with regard to the estimated reaction functions' ability to describe actual interest rate dynamics. We retrieve a panel reaction function which is demonstrated to be a valuable tool for evaluating episodes of monetary policy since 1999. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.relation.ispartofseries | | Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,33 | | en_US |
| dc.subject.jel | | E43 | | en_US |
| dc.subject.jel | | E58 | | en_US |
| dc.subject.jel | | C33 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Monetary Policy | | en_US |
| dc.subject.keyword | | Reaction Function | | en_US |
| dc.subject.keyword | | Euro Area | | en_US |
| dc.subject.keyword | | Panel Data | | en_US |
| dc.subject.stw | | Zinspolitik | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Reaktionsfunktion | | en_US |
| dc.subject.stw | | Panel | | en_US |
| dc.subject.stw | | Europäische Wirtschafts- und Währungsunion | | en_US |
| dc.subject.stw | | Schätzung | | en_US |
| dc.subject.stw | | EU-Staaten | | en_US |
| dc.title | | Interest rate reaction functions for the euro area Evidence from panel data analysis | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 473007118 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank
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