Sauer, Stephan; Sturm, Jan-Egbert - In: German Economic Review 8 (2007) 08, pp. 375-398
Over the last decade, the simple instrument policy rule developed by Taylor has become a popular tool for evaluating the monetary policy of central banks. As an extensive empirical analysis of the European Central Bank's (ECB) past behaviour still seems to be in its infancy, we estimate several...