Anticipation and Surprises in Central Bank Interest Rate Policy : The Case of the Bundesbank

The Case of the Bundesbank

Anticipation and Surprises in Central Bank Interest Rate Policy : The Case of the Bundesbank
Market reaction to a change in official interest rates will depend on the extent to which the change is anticipated, and on how it is interpreted as a signal of future policy. In this paper, a technique is developed to separate the anticipated and unanticipated components of such changes and is applied to estimate the response of Euro-deutsch... READ MORE...

Publication date: April 1998
ISBN 9781451975192
$15.00

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