Rosa, Carlo - Center for Operations Research and Econometrics … - 2009
estimating the ECB’s policy reaction function
3
and using only euro area data from 1999.
1
First, there are studies (among … event with maximum probability). Then we cross-tabulate the
direction of forecasted changes against observed outcomes in a … the
future policy rate change, g2778g4666g484g4667 is the indicator function that takes value one when the event is true …