TY - JOUR 
A1 - Eleftheriou, María
T1 - Monetary policy in Germany: A cointegration analysis on the relevance of interest rate rules
Y1 - 2009
SN - 02649993
UR - http://hdl.handle.net/11268/480
AB - The paper attempts to identify an empirical relationship that characterizes the way the Bundesbank adjusted its short-term rate with respect to various objectives. By building on a careful exploration of the properties of the variables involved, it is established that interest rate rules -often remarkably similar to the Taylor rule-remain valid and relevant in a Vector Error Correction framework, and thereby proposing a distinctive interpretation of German monetary policy during the period 1975-1998. (C) 2009 Elsevier B.V. All rights reserved.
KW - Cointegration
KW - Impulse Response Analysis
KW - Monetary Policy
KW - Taylor Rule
KW - Vector Error Correction Model
KW - Deutsche Bundesbank
KW - Time-Series
KW - Unit-Root
KW - Real-Time
KW - Transmission
KW - Regressions
KW - Bundesbank
KW - Shifts
KW - Funds
KW - Tests
KW - Rank
KW - Business & Economics
KW - Política monetaria
KW - Alemania
LA - eng
ER -