Belke, Ansgar; Cui, Yuhua - Rheinisch-Westfälisches Institut für … - 2009
This paper analyses the monetary policy interdependence between the European Central Bank (ECB) and the Federal Reserve … endogenous, and look for long-run equilibrium relationships among them, which may reveal monetary policy interdependence between …-follower relationship. The empirical results of both models indicate interdependence between the ECB and the Fed, but only the general VECM …