What Drives the European Central Bank's Interest-Rate Changes?
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What Drives the European Central Bank's Interest-Rate Changes? / Jensen, Henrik; Aastrup, Morten.
London : Centre for Economic Policy Research, CEPR, 2010.Research output: Working paper › Research
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TY - UNPB
T1 - What Drives the European Central Bank's Interest-Rate Changes?
AU - Jensen, Henrik
AU - Aastrup, Morten
N1 - JEL classification: E43, E58
PY - 2010
Y1 - 2010
N2 - We show that the ECB's interest rate changes during 1999-2010 have been mainly driven by changes in economic activity in the Euro area. Changes in actual or expected future HICP inflation play a minor, if any, role.
AB - We show that the ECB's interest rate changes during 1999-2010 have been mainly driven by changes in economic activity in the Euro area. Changes in actual or expected future HICP inflation play a minor, if any, role.
KW - Faculty of Social Sciences
KW - ECB monetary policy
KW - Taylor principle
KW - Taylor rules
M3 - Working paper
BT - What Drives the European Central Bank's Interest-Rate Changes?
PB - Centre for Economic Policy Research, CEPR
CY - London
ER -
ID: 32134041