Series/Report no.:
38th Congress of the European Regional Science Association: "Europe Quo Vadis? - Regional Questions at the Turn of the Century", 28 August - 1 September 1998, Vienna, Austria
Abstract:
This paper contrast the existence of different regional effects of an homogeneous monetary policy and study the local characteristics that underlie these differential responses. To this purpose I use regional data and estimate a structural vector autoregression model (VAR) to characterize the different regional responses. Afterwards I use the estimated responses to analyze if the responses depends on the regional characteristics of the financial system, like industry composition, firms size or banking sector composition.