Arbeitspapier
The monetary transmission mechanism in the euro area: more evidence from VAR analysis
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
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Working Paper ; No. 91
- Classification
-
Wirtschaft
Monetary Policy
- Subject
-
monetary transmission mechanism
vector autoregressions
- Event
-
Geistige Schöpfung
- (who)
-
Peersman, Gert
Smets, Frank
- Event
-
Veröffentlichung
- (who)
-
European Central Bank (ECB)
- (where)
-
Frankfurt a. M.
- (when)
-
2001
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Peersman, Gert
- Smets, Frank
- European Central Bank (ECB)
Time of origin
- 2001