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Empirický odhad předkrizového Taylorova pravidla FEDu za použití dat dostupných v reálném čase / An empirical estimate of the pre-crisis Taylor rule of the Fed using real-time data

This thesis analyses the monetary policy of the Fed in the period before the financial and economic crisis 2007. The aim of this analysis is to investigate whether the monetary policy significantly deviated from the preceding one which, according to John Taylor, adhered to the Taylor rule. This analysis is performed using both revised and real-time data. I compare the monetary policy with various specifications of the Taylor rule. I also estimate a forward-looking Taylor rule. The results confirm the deviation from the Taylor rule. However, deviations were usual in the whole sample period. Estimated models do not indicate that the monetary policy before the crisis was different from the rest of the analyzed period.

Identiferoai:union.ndltd.org:nusl.cz/oai:invenio.nusl.cz:264083
Date January 2016
CreatorsMrázek, Martin
ContributorsPotužák, Pavel, Kadeřábková, Božena
PublisherVysoká škola ekonomická v Praze
Source SetsCzech ETDs
LanguageCzech
Detected LanguageEnglish
Typeinfo:eu-repo/semantics/masterThesis
Rightsinfo:eu-repo/semantics/restrictedAccess

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