The Taylor Rule and Interest Rates in the EMU Area

By Stefan Gerlach, Gert Schnabel. 2000

318 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/da0db234b41ce3288d36c2508b8c0b02bf58dbc2

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Citations in the corpus

How the ECB and the US Fed set interest rates (2007, background): “4 See, e.g. Peersman and Smets (1998), Gerlach and Schnabel (2000), Clausen and Hayo (2002), Gerlach-Kristen (2003) and Ullrich (2003).”
Monetary Policy Inertia: Fact or Fiction? (2006, unknown): “Svensson (2003) argues that such an endeavor is doomed to failure because the missing elements are so completely judgemental in nature that they cannot be captured by an instrument rule such as the Taylor rule: Monetary policy by the world’s more advanced central banks these days is at least as 15 I”
An estimated dynamic stochastic general equilibrium model of the euro area. NBB Working Paper Nr. 35 (2002, unknown): “However, Gerlach and Schnabel (2000) have shown that since the early 1990s average interest rates in the euro area can be characterized quite well by a Taylor rule.”
Data Uncertainty and the Role of Money as an Information Variable for Monetary Policy (2005, methodology): “By abstracting from deviations between We make this assumption, because Taylor’s rule roughly captures the systematic component of monetary policy in a number of European countries in recent years (see for example Clarida, Gaĺı and Gertler (1998) and Gerlach and Schnabel (2000)).”
Using Taylor Rules to Understand ECB Monetary Policy (2003, background): “2 See, e.g. Gerlach and Schnabel (2000) and Peersman and Smets (1998).”
Term structure evidence on interest rate smoothing and monetary policy inertia (2002, background): “33As an alternative, Gerlach and Schnabel (2000) include in their estimated Taylor rule for Europe a dummy variable intercept shift for a large persistent rule deviation.”
Using Taylor Rules to Understand European Central Bank Monetary Policy (2007, background): “European Central Bank (ECB) in advance of the introduction of the euro in 1999 (see e.g. Gerlach and Schnabel, 2000; Peersman and Smets, 1998).”
Asymmetric bank lending channels and ECB monetary policy (2003, background): “See also Gerlach and Schnabel 2000 and Peersman and Smets Ž .1999 who estimate a Taylor rule for the whole Union to provide a benchmark for the future behaviour of the ECB.”