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The Monetary Pillar: an empirical evaluation of the monetary strategy of the ECB
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2014 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The monetary strategy of the ECB is examined empirically using records from the monthly press conferences and statistical data series for the relevant variables. The results suggest that the monetary pillar does not influence the interest rate decisions, which are instead taken based on considerations of real economic developments. Furthermore, the ECB takes a forward-looking approach, allowing inflation to temporarily exceed the 2% target.

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URN: urn:nbn:se:uu:diva-226213OAI: oai:DiVA.org:uu-226213DiVA: diva2:724674
Available from: 2014-06-13 Created: 2014-06-13 Last updated: 2014-06-13Bibliographically approved

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