| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4817 |
| DP4817 Advertising and Pricing at Multiple-Output Firms: Evidence from US Thrift Institutions | |
| Evren ÖRS; Robert DeYoung | |
| 发表日期 | 2004-12-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | This Paper discusses interest rate setting by the ECB between 1999 and 2004. I develop from the Monthly Bulletins quantitative indicators of the Governing Council?s assessment of inflation, economic activity, and M3 growth, and investigate their impact on its interest rate decisions. I also estimate reaction functions with ordered probit techniques, using the Monthly Bulletins to guide the choice of variables for the analysis. The results show that the ECB reacts strongly to economic sentiment indicators as measures of the state of the real economy. Furthermore, I find statistically significant reactions to inflation and M3 growth. |
| 主题 | International Macroeconomics |
| 关键词 | Ecb Empirical reaction functions Ordered probit |
| URL | https://cepr.org/publications/dp4817 |
| 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/533727 |
| 推荐引用方式 GB/T 7714 | Evren ÖRS,Robert DeYoung. DP4817 Advertising and Pricing at Multiple-Output Firms: Evidence from US Thrift Institutions. 2004. |
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