Eschenhof, Sabine (2009)
Comparing Monetary Policy Rules in a Small Open Economy Framework: An Empirical Analysis Using Bayesian Techniques.
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| Item Type: | Report |
|---|---|
| Type of entry: | Primary publication |
| Title: | Comparing Monetary Policy Rules in a Small Open Economy Framework: An Empirical Analysis Using Bayesian Techniques |
| Language: | English |
| Date: | December 2009 |
| Place of Publication: | Darmstadt |
| Series: | Darmstadt Discussion Papers in Economics |
| Series Volume: | 197 |
| Abstract: | This paper examines the role of exchange rate changes in the monetary policy for the Euro Area. Moreover, it compares different Taylor-type policy rules with respect to the numerical results as well as the impulse responses to exogenous shocks and the fit of the different data model specifications when using the underlying data. Overall, a monetary policy rule which includes the expected inflation rate as well as the output gap performs best and supports a possible role of exchange rate changes in the Euro Area's monetary policy. |
| Uncontrolled Keywords: | Bayesian Estimation, Small Open Economy, Monetary Policy, Taylor Rule |
| URN: | urn:nbn:de:tuda-tuprints-47290 |
| Additional Information: | JEL - Classification: C11, E52, F41 |
| Classification DDC: | 300 Social sciences > 330 Economics |
| Divisions: | 01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete > Economic Theory 01 Department of Law and Economics > Volkswirtschaftliche Fachgebiete 01 Department of Law and Economics |
| Date Deposited: | 14 Jan 2010 14:25 |
| Last Modified: | 26 Jan 2016 15:04 |
| URI: | https://tuprints.ulb.tu-darmstadt.de/id/eprint/4729 |
| PPN: | 378259490 |
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