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dc.contributor.authorWilhelmsen, Bjørn-Roger
dc.contributor.authorZaghini, Andrea
dc.date.accessioned2018-05-16T12:45:49Z
dc.date.available2018-05-16T12:45:49Z
dc.date.issued2005
dc.identifier.isbn82-7553-312-0
dc.identifier.isbn82-7553-313-9
dc.identifier.issn0801-2504
dc.identifier.issn1502-8143
dc.identifier.urihttp://hdl.handle.net/11250/2498426
dc.description.abstractThe paper evaluates the ability of market participants to anticipate monetary policy decisions in the euro area and in 13 other countries. First, by looking at the magnitude and the volatility of the changes in the money market rates we show that the days of policy meetings are special days for financial markets. Second, we find that the predictability of the ECB’s monetary policy is fully comparable (and sometimes slightly better) to that of the FED and the Bank of England. Finally, an econometric analysis of the ability of market participants to incorporate in the current money rates the expected changes in the key policy rate shows that in the euro area policy decisions are anticipated well in advance.nb_NO
dc.language.isoengnb_NO
dc.publisherNorges Banknb_NO
dc.relation.ispartofseriesWorking Papers;7/2005
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.no*
dc.subjectJEL: E4nb_NO
dc.subjectJEL: E5nb_NO
dc.subjectJEL: G1nb_NO
dc.subjectmonetary policynb_NO
dc.subjectpredictabilitynb_NO
dc.subjectmoney market ratesnb_NO
dc.titleMonetary Policy Predictability in the Euro Area: An International Comparisonnb_NO
dc.typeWorking papernb_NO
dc.description.versionpublishedVersionnb_NO
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212nb_NO
dc.source.pagenumber28nb_NO


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Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal
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