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dc.contributor.authorBelke, Ansgaren_US
dc.contributor.authorPolleit, Thorstenen_US
dc.date.accessioned2009-05-15en_US
dc.date.accessioned2009-09-10T13:48:26Z-
dc.date.available2009-09-10T13:48:26Z-
dc.date.issued2006en_US
dc.identifier.piurn:nbn:de:101:1-2008082788en_US
dc.identifier.urihttp://hdl.handle.net/10419/27840-
dc.description.abstractMonetary policies of the ECB and US Fed can be characterised by Taylor rules, that is both central banks seem to be setting rates by taking into account the output gap and inflation. We also set up and tested Taylor rules which incorporate money growth and the euro-dollar exchange rate, thereby improving the fit between actual and Taylor rule based rates. In general, Taylor rules appear to be a much better way of describing Fed policy than ECB policy. Simulations suggest that the ECB's short-term interest rates have been at a much lower level in the last two years compared with what a Taylor rule would suggest.en_US
dc.language.isoengen_US
dc.publisherHfB - Business School of Finance & Management Frankfurt a. M.en_US
dc.relation.ispartofseriesWorking paper series // HfB - Business School of Finance & Management 72en_US
dc.subject.jelE43en_US
dc.subject.jelE58en_US
dc.subject.ddc330en_US
dc.subject.keywordEuropean Central Banken_US
dc.subject.keywordFederal Reserveen_US
dc.subject.keywordMonetary policyen_US
dc.subject.keywordTaylor ruleen_US
dc.titleHow the ECB and US Fed set interest ratesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn577674978en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:fsfmwp:72-
Appears in Collections:Frankfurt School - Working Paper Series, Frankfurt School of Finance and Management

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