Wouter Botzen, W.J.; Marey, Philip S. - VU University Amsterdam, Faculty of Economics, Business … - 2006
The role of asset prices in monetary policy has been widely debated. This paper examines the role that stock prices play in the monetary policy of the ECB. For this purpose, standard and augmented forward-looking Taylor rules are estimated for the ECB using monthly data between 1999 and 2005. Of...
