Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/19500
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dc.contributor.authorRuth, Karstenen_US
dc.date.accessioned2009-01-28T15:59:00Z-
dc.date.available2009-01-28T15:59:00Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/19500-
dc.description.abstractAs of today, estimating interest rate reaction functions for the Euro Area ishampered by the short time span since the conduct of a single monetarypolicy. In this paper we circumvent the common use of aggregated data before1999 by estimating interest rate reaction functions based on a panel includingactual EMU Member States. We find that exploiting the cross-section dimen-sion of a multi-country panel and accounting for cross-country heterogeneity inadvance of the single monetary policy pays off with regard to the estimatedreaction functions' ability to describe actual interest rate dynamics. We retrieve apanel reaction function which is demonstrated to be a valuable tool for evaluatingepisodes of monetary policy since 1999.en_US
dc.language.isoengen_US
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.-
dc.relation.ispartofseries|aDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank |x2004,33en_US
dc.subject.jelE43en_US
dc.subject.jelE58en_US
dc.subject.jelC33en_US
dc.subject.ddc330en_US
dc.subject.keywordMonetary Policyen_US
dc.subject.keywordReaction Functionen_US
dc.subject.keywordEuro Areaen_US
dc.subject.keywordPanel Dataen_US
dc.subject.stwZinspolitiken_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwReaktionsfunktionen_US
dc.subject.stwPanelen_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwSchätzungen_US
dc.subject.stwEU-Staatenen_US
dc.titleInterest rate reaction functions for the euro area Evidence from panel data analysisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn473007118en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:2299-

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