This paper examines the interactions between fiscal and monetary policy for some former
transition, emerging European economies over the 1995Q1–2010Q4 period by using a …

Monetary policies of the European Central Bank (ECB) and US Fed can be characterized by
'Taylor rules', that is both central banks seem to be setting rates by taking into account the …

The Taylor rule establishes a simple linear relation between the interest rate, inflation and
output gap. However, this relation may not be so simple. To get a deeper understanding of …

This paper analyzes the asymmetric effects of monetary policy on the economy. The
asymmetric effects of the monetary policy may arise due to the state of the economy, the …

We assess the differences that emerge in Taylor rule estimations for the ECB when using ex-
post data instead of real time forecasts and vice versa. We argue that previous comparative …

Compared to inflation differentials among regions in the United States, European Monetary
Union (EMU) inflation differentials are larger and more persistent. Based on augmented …

This paper empirically analyzes the interest rate behavior of the Canadian monetary
authorities by taking into account possible asymmetries in the loss function. We employ a …

This paper investigates whether financial markets stability matters in setting monetary policy
in the case of the European Central Bank and Bank of England. We show that our Tri …

We introduce a new approach to estimate asymmetric Taylor reaction functions where
asymmetries depend crucially on the state of the economy which is in the Taylor rule …

We examine the relationship between price stability and financial stability for major
emerging economies using a Markov regime-switching model. Empirical results suggest that …