Behind closed doors: Revealing the ECB’s Decision Rule

Behind closed doors: Revealing the ECB’s Decision Rule

This paper aims at discovering the decision rule the Governing Council of the ECB uses to set interest rates. We construct a Taylor rule for each member of the council and for the euro area as a whole, and aggregate the interest rates they produce using several classes of decision-making mechanisms:...

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Udgivet i:MAGKS - Joint Discussion Paper Series in Economics (Band 35-2011)
Autoren: Hayo, Bernd, Méon, Pierre-Guillaume
Format: Arbeit
Sprog:engelsk
Udgivet: Philipps-Universität Marburg 2011
Fag:
Wirtschaft
Decision rules.
Monetary Policy Committee
European Central Bank
Economics
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MAGKS - Joint Discussion Paper Series in Economics

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