Drometer, Marcus; Siemsen, Thomas; Watzka, Sebastian - 2013
economically worse than the Euro Area average perform best. -- monetary policy ; ECB ; Bundesbank ; decision rule ; counterfactual …We derive four sets of counterfactual national interest rate paths for the 17 Euro Area countries for the time period … still conduct independent monetary policy. We find that prior to the financial crisis the counterfactual interest rates for …