Title: Differences in interest rate policy at the ECB and the Fed: an investigation with a medium-scale DSGE model
Authors: Sahuc, J.G. ×
Smets, Frank #
Issue Date: 2008
Publisher: Ohio State University Press
Series Title: Journal of Money, Credit and Banking vol:40 issue:2-3 pages:505-521
Abstract: Using two estimated models for the euro area and the United States, this paper investigates whether the observed difference in the amplitude of the interest rate cycle since 1999 in both areas is due to differences in the estimated monetary policy reaction function, differences in the structure of the economy or differences in the size and nature of the shocks hitting both economies. The paper concludes that differences in the type, size and persistence of shocks in both areas can largely explain the different interest rate setting. Copyright (c)2008 The Ohio State University.
ISSN: 0022-2879
Publication status: published
KU Leuven publication type: IT
Appears in Collections:Non-KU Leuven Association publications
× corresponding author
# (joint) last author

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