EconStor >
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/10419/19504
  
Title:Taylor rules for the euro area: the issue of real-time data PDF Logo
Authors:Gerdesmeier, Dieter
Roffia, Barbara
Issue Date:2004
Series/Report no.:Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2004,37
Abstract:Recently, a number of studies have made an attempt to deal with the key issue of the incompleteness of information available to the central bank when taking its monetary policy decisions. This study adds to this literature by tackling the problem with regard to the euro area. The analysis is based on the simplistic assumption of the central bank following a simple monetary policy rule ?-la-Taylor. Along the lines of work suggested by Orphanides, the study tries to assess whether estimates of reaction functions which are carried out using revised data for the euro area can convey a misleading message in terms of policy recommendations.
Subjects:Taylor Rules
Reaction Functions
Monetary Policy
Euro Area
Real Time Data
JEL:F41
E58
Document Type:Working Paper
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

Files in This Item:
File Description SizeFormat
200437dkp.pdf295.2 kBAdobe PDF
No. of Downloads: Counter Stats
Download bibliographical data as: BibTeX
Share on:http://hdl.handle.net/10419/19504

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.