Gaspar, Vítor; Perez-Quiros, Gabriel; Sicilia, Jorge - Oesterreichische Nationalbank - 2001
This paper aims at contributing to the understanding of how the ECB conducts monetary policy as seen from a money …. Second, it looks at how well money market participants have anticipated the monetary policy decisions taken by the ECB. To do … the Eurosystem started implementing the single monetary policy. It shows that during the first three weeks of 1999 the …