Citation

Discussion Paper Details

Please find the details for DP8160 in an easy to copy and paste format below:

Full Details   |   Bibliographic Reference

Full Details

Title: What Drives the European Central Bank's Interest-Rate Changes?

Author(s): Morten Aastrup and Henrik Jensen

Publication Date: December 2010

Keyword(s): ECB monetary policy, Taylor principle and Taylor rules

Programme Area(s): International Macroeconomics

Abstract: We show that the ECB's interest rate changes during 1999-2010 have been mainly driven by changes in economic activity in the Euro area. Changes in actual or expected future HICP inflation play a minor, if any, role.

For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=8160

Bibliographic Reference

Aastrup, M and Jensen, H. 2010. 'What Drives the European Central Bank's Interest-Rate Changes?'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=8160