BELKE, ANSGAR; GROS, DANIEL - In: Journal of Common Market Studies 43 (2005) 5, pp. 921-946
The belief that the European Central Bank (ECB) follows the US Federal Reserve (the Fed) in setting its policy is so entrenched with market participants and commentators that the search for empirical support would seem to be a trivial task. However, this is not the case. We find that the ECB is...