Belke, Ansgar (contributor); Cui, Yuhua (contributor) - 2009
This paper analyses the monetary policy interdependence between the European Central Bank (ECB) and the Federal Reserve …. The empirical results of both models indicate interdependence between the ECB and the Fed, but only the general VECM … testifies a leader-follower pattern between the two central banks. According to this pattern, the ECB does follow the Fed …