Taylor Rules for the ECB using Expectations Data*

B-Tier
Journal: Scandanavian Journal of Economics
Year: 2008
Volume: 110
Issue: 3
Pages: 473-488

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We estimate Taylor rules for the euro area using Consensus Economics data for expected inflation and output growth, and compare these estimates with more conventional specifications in which actual outcomes are used. We find that the ECB takes expected inflation and expected output growth into account in setting interest rates, while in the more conventional model specification, the coefficient of realized inflation is not significantly different from zero.

Technical Details

RePEc Handle
repec:bla:scandj:v:110:y:2008:i:3:p:473-488
Journal Field
General
Author Count
3
Added to Database
2026-01-25