Schmidt, Sandra; Nautz, Dieter - Fachbereich Wirtschaftswissenschaft, Freie Universität … - 2010
This paper investigates why financial market experts misperceive the interest rate policy of the European Central Bank …. However, although experts tend to overestimate the impact of inflation on future interest rates, perceptions of monetary … policy have become more accurate since clarification of the ECB's monetary policy strategy in May 2003. We find that this …