Arbeitspapier
Does money matter in the ECB strategy? : New evidence based on ECB communication
We examine the role of money in the policies of the ECB, using introductory statements of the ECB President at the monthly press conferences during 1999-2004. Over time, the relative amount of words devoted to the monetary analysis has decreased. Our analysis of indicators of the monetary policy stance suggests that developments in the monetary sector, while somewhat more important in the later half of the sample, only played a minor role most of the time. Our estimates of ECB interest rate decisions suggest that the ECB's words (monetary-sector based policy intensions) are not an important determinant of its actions.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 1652
Klassifikation
Wirtschaft
Monetary Policy
Central Banks and Their Policies
Interest Rates: Determination, Term Structure, and Effects
Monetary Policy
Central Banks and Their Policies
Interest Rates: Determination, Term Structure, and Effects
Thema
ECB
communication
monetary policy
Geldpolitik
Publikationsanalyse
Staatliche Information
EU-Staaten
European Central Bank
communication
monetary policy
Geldpolitik
Publikationsanalyse
Staatliche Information
EU-Staaten
European Central Bank
Ereignis
Geistige Schöpfung
(wer)
Berger, Helge
de Haan, Jakob
Sturm, Jan-Egbert
de Haan, Jakob
Sturm, Jan-Egbert
Ereignis
Veröffentlichung
(wer)
Center for Economic Studies and ifo Institute (CESifo)
(wo)
Munich
(wann)
2006
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:20 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Berger, Helge
- de Haan, Jakob
- Sturm, Jan-Egbert
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2006
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