Taylor-Regel und Subprime-Krise - Eine empirische Analyse der US-amerikanischen Geldpolitik

Erler, Alexander and Krizanac, Damir (2009): Taylor-Regel und Subprime-Krise - Eine empirische Analyse der US-amerikanischen Geldpolitik.

Abstract

This paper examines the impact of the U.S. monetary policy on the Subprime mortgage crisis using a modified taylor rule. The main finding is that during the pre-crisis period the short term rate deviated significantly from the estimated taylor rate. This deviation may have been a cause of the ongoing financial crisis. However, the evidence also suggests that other factors were certainly at play.

• Item Type: MPRA Paper
• English Title: Taylor Rule and the Subprime Crisis - An Empirical Analysis of the US Monetary Policy
• Language: German
• Keywords: Geldpolitik; Taylor-Regel; Subprime-Krise; Fed
• Subjects: E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies; E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy

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