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Evaluating the stresses from ECB monetary policy in the euro area

Lee, Jim; Crowley, Patrick M - Suomen Pankki - 2009

This paper investigates the extent to which euro area monetary policy has responded to evolving economic conditions in individual member states as opposed to the euro area as a whole. Based on a forward-looking Taylor rule-type policy reaction function, we conduct counterfactual exercises that...

Persistent link: https://www.econbiz.de/10004979449

A case for interest rate smoothing

Bask, Mikael - Suomen Pankki - 2007

and the CPI inflation rate, the monetary authority does not have to consider the exchange rate as long as there is …

Persistent link: https://www.econbiz.de/10005648927

Monetary policy rules in practice: Evidence from New Zealand

Huang, Angela; Margaritis, Dimitri; Mayes, David - Suomen Pankki - 2001

We use the ten years of experience in inflation-targeting in New Zealand since 1989 to test whether monetary policy … appears to conform to the simple rules that have been recommended for it in the literature. Of the inflation targeting central … Policy Statements is firmly based on targeting the inflation rate in the future we find, using the Bank’s own forecasts, that …

Persistent link: https://www.econbiz.de/10005648979