| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2388 |
| DP2388 Evaluating Changes In The Bank Of Spain's Intervention: An Alternative Approach Using Marked Point Processes | |
| Juan Dolado; Ramón María-Dolores | |
| 发表日期 | 2000-02-29 |
| 出版年 | 2000 |
| 语种 | 英语 |
| 摘要 | In this paper we provide empirical evidence on the determinants of the monetary policy stance by the Bank of Spain over the period 1984-1998, by means of modelling a marked point process explaining the probability of an intervention at each point in time (events) and the size of these interventions (marks) conditional on the decision to intervene. Interventions are measured by changes in the marginal interest rate of the Spanish daily interbank market. We test for and find evidence in favour of the existence of asymmetries in the response of the central bank to the evolution of various macroeconomic variables and for the presence of 'duration' effects. |
| 主题 | International Macroeconomics |
| 关键词 | Marked point process monetary policy Ordered probit Probit Sequential probit |
| URL | https://cepr.org/publications/dp2388 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531472 |
| 推荐引用方式 GB/T 7714 | Juan Dolado,Ramón María-Dolores. DP2388 Evaluating Changes In The Bank Of Spain's Intervention: An Alternative Approach Using Marked Point Processes. 2000. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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