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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]

Author

Listed:
  • 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.

Suggested Citation

  • Erler, Alexander & Krizanac, Damir, 2009. "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]," MPRA Paper 18604, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:18604
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    References listed on IDEAS

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    More about this item

    Keywords

    Geldpolitik; Taylor-Regel; Subprime-Krise; Fed;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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