Monetary Policy, Interest Rate Rules, and the Term Structure of Interest Rates : Theoretical Considerations and Empirical Implications
by
Ralf Fendel
Book Details
Format
Paperback / Softback
ISBN-10
3631558945
ISBN-13
9783631558942
Publisher
Peter Lang GmbH
Imprint
Peter Lang GmbH
Country of Manufacture
DE
Country of Publication
GB
Publication Date
Jan 24th, 2007
Print length
201 Pages
Weight
266 grams
Dimensions
15.00 x 21.00 x 1.70 cms
Product Classification:
Politics & governmentPolitics and governmentMonetary economics
Ksh 9,950.00
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Interest rate rules play an important role in the empirical analysis of monetary policy as well as in modern monetary theory. Besides giving a comprehensive insight into this line of research the study incorporates the term structure of interest rates into interest rate rules. This is performed analytically as well as empirically. In doing so, state of the art techniques of modern finance for the analysis of the term structure of interest rates are introduced into the macroeconomic concept of interest rate rules. The study implies that from the theoretical perspective term structure effects are an important extension of interest rate rules. From an empirical perspective it shows that including term structure effects in interest rate reaction functions improves our understanding of the interest rate setting of the Deutsche Bundesbank and the European Central Bank.
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