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Taylor-Regel und Subprime-Krise - Eine empirische Analyse der US-amerikanischen Geldpolitik
[Taylor Rule and the Subprime Crisis - An Empirical Analysis of the US Monetary Policy]

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  • Erler, Alexander
  • Krizanac, Damir

Abstract

This paper examines the impact of the U.S. monetary policy on the Subprime mortgage crisis using a modified taylor rule. The main finding is that during the pre-crisis period the short term rate deviated significantly from the estimated taylor rate. This deviation may have been a cause of the ongoing financial crisis. However, the evidence also suggests that other factors were certainly at play.

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File URL: http://mpra.ub.uni-muenchen.de/18604/
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File URL: http://mpra.ub.uni-muenchen.de/19045/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 18604.

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Date of creation: 13 Nov 2009
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Handle: RePEc:pra:mprapa:18604

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Keywords: Geldpolitik; Taylor-Regel; Subprime-Krise; Fed;

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