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dc.contributor.authorClausen, Volkeren_US
dc.contributor.authorHayo, Bernden_US
dc.date.accessioned2010-09-01T09:48:44Z-
dc.date.available2010-09-01T09:48:44Z-
dc.date.issued2002en_US
dc.identifier.urihttp://hdl.handle.net/10419/39616-
dc.description.abstractThis paper uses a semi-structural dynamic modelling approach to investigate asymmetric monetary transmission in Europe. A system of equations containing reaction functions for monetary policy, output and inflation equations is simultaneously estimated for France, Germany, and Italy. Extensive cross equation tests show that relatively large differences in simulated impulse responses are still consistent with the notion that the transmission mechanism is homogeneous across the three major EMU countries. However, monetary policy impulses show a relatively stronger effect on the output gap in Italy and Germany. Out-of-sample tests do not find a structural break in the transmission mechanisms prior to EMU.-
dc.language.isoengen_US
dc.publisherZEI Bonnen_US
dc.relation.ispartofseriesZEI working paper B 04-2002en_US
dc.subject.jelE52-
dc.subject.jelF41-
dc.subject.ddc330en_US
dc.subject.keywordEuropean Monetary Union-
dc.subject.keywordMonetary Policy-
dc.subject.keywordSemi-structural modelling-
dc.subject.stwTransmissionsmechanismusen_US
dc.subject.stwGeldpolitiken_US
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen_US
dc.subject.stwSchätzungen_US
dc.subject.stwFrankreichen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwItalienen_US
dc.titleAsymmetric monetary policy effects in EMUen_US
dc.typeWorking Paperen_US
dc.identifier.ppn351208380en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zeiwps:B042002-
Appears in Collections:ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn

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