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-looking monetary policy decisions. The bias is higher for countries whose monetary policy was more independent of Germany …
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Market reaction to a change in official interest rates will depend on the extent to which the change is anticipated, and on how it is interpreted as a signal of future policy. In this paper, a technique is developed to separate the anticipated and unanticipated components of such changes and is...
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, Germany, Japan, the United Kingdom, and the United States for implementing monetary policy in the short run. The analysis …
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