Arbeitspapier
Empirical estimates of reaction functions for the euro area
This paper contains a set of estimates of reaction functions for the euro area based on a monthly data set starting in 1985. The main aim is to assess the performance of Taylor rules and to evaluate whether alternative specifications based, inter alia, on the inclusionc of additional variables not contained in the original specification proposed by Taylor or the use of different measures of the output gap and the inflation term, can better track the interest rate setting in the euro area. An interesting result is that monetary developments (in the form of a money growth gap indicator derived as the deviation of M# growth from its estimated reference value) enter significantly as an additional variable in a Taylor-like policy rule specification for the euro area.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 206
- Klassifikation
-
Wirtschaft
Central Banks and Their Policies
Open Economy Macroeconomics
- Thema
-
euro area
monetary policy
reaction functions
Taylor rules
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gerdesmeier, Dieter
Roffia, Barbara
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2003
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Gerdesmeier, Dieter
- Roffia, Barbara
- European Central Bank (ECB)
Entstanden
- 2003
Ähnliche Objekte (12)
Empirical estimates of reaction functions for the Euro area
Estimating simple fiscal policy reaction functions for the euro area countries
Estimating simple fiscal policy reaction functions for the euro area countries
Interest rate reaction functions and the Taylor rule in the Euro area
Interest rate reaction functions and the Taylor rule in the euro area
Euro membership and fiscal reaction functions
Euro membership and fiscal reaction functions
Euro Membership and Fiscal Reaction Functions
Euro membership and fiscal reaction functions
Euro Membership and Fiscal Reaction Functions
Interest rate reaction functions for the Euro area : evidence from panel data analysis
Interest rate reaction functions for the Euro area : evidence from panel data analysis
Empirical estimates of reaction functions for the Euro area
Estimating simple fiscal policy reaction functions for the euro area countries
Estimating simple fiscal policy reaction functions for the euro area countries
Interest rate reaction functions and the Taylor rule in the Euro area
Interest rate reaction functions and the Taylor rule in the euro area
Euro membership and fiscal reaction functions
Euro membership and fiscal reaction functions
Euro Membership and Fiscal Reaction Functions
Euro membership and fiscal reaction functions
Euro Membership and Fiscal Reaction Functions
Interest rate reaction functions for the Euro area : evidence from panel data analysis
Interest rate reaction functions for the Euro area : evidence from panel data analysis
Empirical estimates of reaction functions for the Euro area
Estimating simple fiscal policy reaction functions for the euro area countries
Estimating simple fiscal policy reaction functions for the euro area countries
Interest rate reaction functions and the Taylor rule in the Euro area
Interest rate reaction functions and the Taylor rule in the euro area
Euro membership and fiscal reaction functions
Euro membership and fiscal reaction functions
Euro Membership and Fiscal Reaction Functions
Euro membership and fiscal reaction functions
Euro Membership and Fiscal Reaction Functions
Interest rate reaction functions for the Euro area : evidence from panel data analysis