000			01898nam a22002657a 4500
003			ZW-GwMSU
005			20240521081640.0
008			240521b |||||||| |||| 00| 0 eng d
022			_a08887233
040			_aMSU _bEngland _cMSU _erda
050	0	0	_aHB90 COM
100	1		_aGerdesmeier, Dieter _eauthor
245	1	0	_aInterest rate setting by the Fed, the ECB, the Bank of Japan and the Bank of England : _bcompared _ccreated by Dieter Gerdesmeier, Francesco Mongelli and Barbara Roffia
264	1		_aHampshire: _bPalgrave Macmillan, _c2010
336			_2rdacontent _atext _btxt
337			_2rdamedia _aunmediated _bn
338			_2rdacarrier _avolume _bnc
440			_aComparative economic studies _vVolume 52, number
520	3		_aIn this paper we compare the policy responsiveness of the Federal Reserve System, the European Central Bank, the Bank of Japan and the Bank of England. At first glance we find substantial differences in the frequency and amplitude of monetary policy decisions. Differences in the actual implementation of monetary policy are, however, less pronounced when seen through the ‘lenses’ of diverse specifications of monetary policy rules – including a variant of the growth rule and a specification accounting for asymmetric preferences. In fact, all four central banks seem to pursue their respective price stability objective. The observed similarities might be due, inter alia, to the fact that they operate in four of the world's largest and most open economies, and are, therefore, subject to relatively similar domestic but also international economic fundamentals.
650			_aInterest rate policy _vRules versus discretion _xComparison _zUnited States, EU countries, Japan, United Kingdom
700	1		_aMongelli, Francesco Paolo _eco-author
700	1		_aRoffia, Barbara _eco-author
856			_uhttps://doi.org/10.1057/ces.2010.15
942			_2lcc _cJA
999			_c165572 _d165572