Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/153205 
Autor:innen: 
Erscheinungsjahr: 
2007
Schriftenreihe/Nr.: 
ECB Working Paper No. 771
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
Policymakers do not always follow a simple rule for setting policy rates for various reasons and thus their choices are co-driven by a decision to follow a rule or not. Consequently, some observations are censored and cause bias in conventional estimators of typical Taylor rules. To account for the censored and discrete process of policy rate setting, I devise a new method for monetary policy rule estimation and demonstrate its ability to outperform the existing conventional estimators using two examples.
Schlagwörter: 
Bias in parameters
monetary policy
policy rule
JEL: 
E4
E5
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
840.22 kB





Publikationen in EconStor sind urheberrechtlich geschützt.