The monetary transmission mechanism in the euro area: more evidence from VAR analysis

Arbeitspapier

This paper applies the identified VAR methodology to synthetic euro area data from 1980 till 1998 to study the macro-economic effects of an unexpected change in monetary policy in the euro area. The focus is on the area-wide monetary transmission. It is shown that the overall macro-economic effects of a monetary policy shock in the euro area are very similar to those estimated for the United States and are surprisingly stable over time. In addition, the paper contains a number of robustness checks with alternative identification schemes and examines how various real and financial variables (such as the GDP or money components) respond to an area-wide monetary policy impulse

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: ECB Working Paper ; No. 91

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Monetary Policy
• Thema: monetary transmission mechanism ; vector autoregressions

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Peersman, Gert ; Smets, Frank
• Ereignis: Veröffentlichung
• (wer): European Central Bank (ECB)
• (wo): Frankfurt a. M.
• (wann): 2001

Weitere Informationen

• Handle: http://hdl.handle.net/10419/152525
• Letzte Aktualisierung: 10.03.2025, 11:42 MEZ