Monetary Transmission in Germany: Evidence From a Structural Econometric Model
In this paper a cointegrated system represented as a simultaneous Vector Equilibrium Correction Model for money, prices, output and interest rates in Germany is estimated. The model gives insight in the process of transmission mechanisms of the Bundesbank's monetary policy. The empirical results are consistent with markets' perceptions of a credible monetary policy by which the Bundesbank sticks to its announced monetary targets. A policy reactionfunction for short term interest rates is found which is very similar to a Taylortype feedback rule.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||Mar 1998|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (+45) 35 32 30 10
Fax: +45 35 32 30 00
Web page: http://www.econ.ku.dk
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:kud:kuiedp:9805. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Hoffmann)
If references are entirely missing, you can add them using this form.