Resource title

Taylor rules for the euro area: the issue of real-time data

Resource image

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Resource description

Recently, a number of studies have made an attempt to deal with the key issue of the incompleteness of information available to the central bank when taking its monetary policy decisions. This study adds to this literature by tackling the problem with regard to the euro area. The analysis is based on the simplistic assumption of the central bank following a simple monetary policy rule ?-la-Taylor. Along the lines of work suggested by Orphanides, the study tries to assess whether estimates of reaction functions which are carried out using revised data for the euro area can convey a misleading message in terms of policy recommendations.

Resource author

Dieter Gerdesmeier, Barbara Roffia

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/19504

Resource license

Adapt according to the presented license agreement and reference the original author.