Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/204818 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
MAGKS Joint Discussion Paper Series in Economics No. 23-2019
Verlag: 
Philipps-University Marburg, School of Business and Economics, Marburg
Zusammenfassung: 
In this paper we distinguish the responses of conventional and unconventional monetary policy measures on macroeconomic variables, using a high frequency data set which measures the impact of the ECB's monetary policy decisions. For the period 2002:01 to 2019:06 we show that unconventional and conventional monetary policy measures differ considerably with respect to inflation. While conventional measures show the expected response, i.e. an interest rate cut increases inflation and vice versa, unconventional measure appear to have no significant influence. But this holds not for QE, which is found to have similar influence on inflation as conventional interest rate changes.
Schlagwörter: 
Unconventional Monetary Policy
High-Frequency Data
ECB
JEL: 
E52
E58
C36
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
1.12 MB





Publikationen in EconStor sind urheberrechtlich geschützt.