Asymmetries in Monetary Policy Reaction Function: Evidence for U.S. French and German Central Banks

Fiche du document

Auteurs
Date

1 janvier 2002

Discipline
Type de document
Périmètre
Langue
Identifiants
Source

HAL-SHS : économie et finance

Relations

Ce document est lié à :
info:eu-repo/semantics/altIdentifier/doi/10.2202/1558-3708.1006

Collection

Archives ouvertes

Organisation

Centre pour la communication scientifique directe

Licence

info:eu-repo/semantics/OpenAccess

Mots-clés Und

E - Macroeconomics and Monetary Economics/E.E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit/E.E5.E52 - Monetary Policy

Sujets proches En

Monetary management

Citer ce document

Frédérique Bec et al., « Asymmetries in Monetary Policy Reaction Function: Evidence for U.S. French and German Central Banks », HAL-SHS : économie et finance, ID : 10.2202/1558-3708.1006

Métriques

Partage / Export

Résumé En

This paper proposes an empirical exploration of the possible asymmetric nature of the preferences of central bankers, with respect to inflation and output targets. The idea underlying this work lies in the widespread belief that central bankers interventions-through changes in a short-term interest rate-are influenced by the state of the current and/or expected state of the business cycle. The GMM estimates of a threshold model support the asymmetric representation of the monetary policy reaction function for recent U.S, French and German data.

document thumbnail

Par les mêmes auteurs

Sur les mêmes sujets

Sur les mêmes disciplines

Exporter en