EAN: 9783631616581

MONETARY POLICY RULES - DIRK BLEICH GEBUNDEN

This work provides different studies of how econometric evaluation of monetary policy based on
forward-looking Taylor rules is conducted. The first part discusses theoretical results
regarding the Taylor principle and can be used as a guideline for the evaluation of the
following three empirical applications based on survey data of Consensus Economics. The first
application deals with the question whether the introduction of inflation targeting affects
monetary policy. The second application investigates the consequences of oil price movements
for monetary policy. The third application analyzes monetary policy conditions in Spain before
and after the changeover to the Euro by estimating forward-looking Taylor rules.

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