2016
DOI: 10.1007/s00181-016-1076-6
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Searching for the Fed’s reaction function

Abstract: Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in… Show more

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Cited by 4 publications
(2 citation statements)
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“…The determinants of US monetary policy are investigated in Wölfel and Weber (2017), who conclude from a BMA analysis that over the long-run (1960-2014) the important variables in explaining the Federal Funds Rate are inflation, unemployment rates and long-term interest rates. Using samples starting in 1973 (post Bretton-Woods) and 1982 (real-time data), the fiscal deficit and monetary aggregates were also found to be relevant.…”
Section: Crises and Financementioning
confidence: 99%
See 1 more Smart Citation
“…The determinants of US monetary policy are investigated in Wölfel and Weber (2017), who conclude from a BMA analysis that over the long-run (1960-2014) the important variables in explaining the Federal Funds Rate are inflation, unemployment rates and long-term interest rates. Using samples starting in 1973 (post Bretton-Woods) and 1982 (real-time data), the fiscal deficit and monetary aggregates were also found to be relevant.…”
Section: Crises and Financementioning
confidence: 99%
“…Using samples starting in 1973 (post Bretton-Woods) and 1982 (real-time data), the fiscal deficit and monetary aggregates were also found to be relevant. Wölfel and Weber (2017) also account for parameter instability through the introduction of an unknown number of structural breaks and find strong support for models with such breaks, although they conclude that there is less evidence for structural break since the 1990s. Watson and Deller (2017) consider the relationship between economic diversity and unemployment in the light of the economic shocks provided by the recent "Great Recession".…”
Section: Crises and Financementioning
confidence: 99%