Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/43136
Authors: 
Eschenhof, Sabine
Year of Publication: 
2009
Series/Report no.: 
Darmstadt Discussion Papers in Economics 196
Abstract: 
In this paper we want to estimate basic Taylor rules with a cross country study approach for European countries before the reorganization of the system of central banks. We compare basic and extended Taylor rules to give a hint if the exchange rate plays a significant role in the decision making of monetary policy. Fixed Effects, GMM and SGMM estimators are used to check for robustness. The obtained results adumbrate that there may be an influence of exchange rate changes on the monetary policy decision making process but the results are not fully robust and deliver only a weak tendency.
Subjects: 
Cross Country Study
Taylor Rules
Exchange Rate
FE Estimation
SGMM Estimation
JEL: 
C32
E52
F31
Document Type: 
Working Paper

Files in This Item:
File
Size
195.61 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.