Are Public Preferences Reflected in Monetary Policy Reaction Functions?
In this paper, we test whether public preferences for price stability (obtained from the Eurobarometer survey) are actually reflected in the interest rates set by eight central banks. We estimate augmented Taylor (1993) rules for the period 1976–1993 using the dynamic GMM estimator. We find, first,...
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| Veröffentlicht in: | MAGKS - Joint Discussion Paper Series in Economics (Band 21-2013) |
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| 1. Verfasser: | |
| Format: | Artikel |
| Sprache: | Englisch |
| Veröffentlicht: |
2013
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| Online-Zugang: | PDF-Volltext |
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