We demonstrate that average interest rates in the EMU countries in 1990-98, with the exception of the period of …

I estimate a reaction function for the ECB using an ordered logit model for the period 1999-2009. Allowing for a smooth …

We explore whether the ECB’s interest rate setting behaviour changed during the financial crisis by estimating reaction … a swift change in the months following the collapse of Lehman brothers. The ECB appears to have cut rates more …

We study ECB’s interest rate setting in 1999-2010 using a reaction function in which forecasts of future economic …

performance of monetary policy in the EMU founding states. It is often claimed that the monetary policy of the European Central … Bank (ECB) cannot outperform its national predecessors, as the euro area countries experience different business cycles yet … share a common interest rate. However, the present analysis shows that the ECB's common monetary policy has been more adept …

pragmatic question in this context is: Did delegating monetary policy to the ECB increase stress in the individual euro area …

This paper estimates a monetary policy reaction function for the ECB over the period 1999-2009. To allow for a … the ECB cut rates more aggressively than expected solely on the basis of the worsening of macroeconomic conditions …

This paper estimates a monetary policy reaction function for the ECB over the period 1999-2009. To allow for a … the ECB cut rates more aggressively than expected solely on the basis of the worsening of macroeconomic conditions …