Hayo, Bernd; Hofmann, Boris - Volkswirtschaft Abteilung, Fachbereich … - 2005
This paper compares the ECB’s conduct of monetary policy with that of the Bundesbank. Estimated monetary policy reaction functions for the Bundesbank (1979:4-1998:12) and the European Central Bank (1999:1-2004:5) show that, while the ECB and the Bundesbank react similarly to expected...
