Marinescu, Ion-Iulian; Horobeṭ, Alexandra - In: Expert journal of economics 3 (2015) 1, pp. 50-62
countries where the capital market plays a significant role in the economy. We break down the policy rate innovations in rules … their accounts with respect to capital market rationality. The rules-based component is determined using an interpolated … vanilla Taylor-rule policy rate at the event date and the discretionary component is obtained by subtracting the rules …
