Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/27840 
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dc.contributor.authorBelke, Ansgaren
dc.contributor.authorPolleit, Thorstenen
dc.date.accessioned2009-05-15-
dc.date.accessioned2009-09-10T13:48:26Z-
dc.date.available2009-09-10T13:48:26Z-
dc.date.issued2006-
dc.identifier.piurn:nbn:de:101:1-2008082788en
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
dc.language.isoengen
dc.publisher|aHfB - Business School of Finance & Management |cFrankfurt a. M.en
dc.relation.ispartofseries|aHfB - Working Paper Series |x72en
dc.subject.jelE43en
dc.subject.jelE58en
dc.subject.ddc330en
dc.subject.keywordEuropean Central Banken
dc.subject.keywordFederal Reserveen
dc.subject.keywordMonetary policyen
dc.subject.keywordTaylor ruleen
dc.titleHow the ECB and US Fed set interest rates-
dc.typeWorking Paperen
dc.identifier.ppn577674978en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:fsfmwp:72en

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