We characterize central bank behavior in the euro area during the run-up to the European Economic and Monetary Union (EMU) era by estimating Taylor rule-type reaction functions at both the individual and aggregate level. We focus on whether national monetary policies during the run-up to the EMU...

We conduct a meta-analysis of the Taylor rule collecting a large number of estimated coefficients from the literature. Our objectives include consideration of heterogeneity in the estimated coefficients, identification of its sources, and examining for the presence of publication bias and...