Arbeitspapier
Is monetary policy in the Eurozone less effective than in the US?
There is a wide consensus that the existence of structural rigidities in the Eurozone reduces the effectiveness of the ECB's monetary policies. In order to test this ?ECB-handicap? hypothesis, we perform a meta-analysis of the effects of monetary policies in the US and the Eurozone countries. This consists in collecting the estimated transmission coefficients obtained from published econometric studies. Meta-analysis then allows us to control for a number of factors that can affect these estimated coefficients. We conclude that there is no evidence for the hypothesis that the ECB is handicapped in using monetary policies for the purpose of stabilizing output compared to the US.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 1606
- Classification
-
Wirtschaft
Central Banks and Their Policies
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Monetary Policy
- Subject
-
Geldpolitik
Konjunkturpolitik
Wirtschaftspolitische Wirkungsanalyse
Transmissionsmechanismus
Vergleich
EU-Staaten
USA
- Event
-
Geistige Schöpfung
- (who)
-
De Grauwe, Paul
Storti, Cláudia Costa
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2005
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
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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
- De Grauwe, Paul
- Storti, Cláudia Costa
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2005
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