Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/27840 
Erscheinungsjahr: 
2006
Schriftenreihe/Nr.: 
HfB - Working Paper Series No. 72
Verlag: 
HfB - Business School of Finance & Management, Frankfurt a. M.
Zusammenfassung: 
Monetary 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.
Schlagwörter: 
European Central Bank
Federal Reserve
Monetary policy
Taylor rule
JEL: 
E43
E58
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
111 kB





Publikationen in EconStor sind urheberrechtlich geschützt.