Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152527
Authors: 
McAdam, Peter
Morgan, Julian
Year of Publication: 
2001
Series/Report no.: 
ECB Working Paper 93
Abstract: 
This paper addresses some of the issues faced by macroeconomic model builders in analysing the monetary transmission mechanism. These include the sensitivity of the policy simulation results to changes in the monetary and fiscal policy rule and the introduction of forward-looking behaviour in the model. To illustrate the importance of these issues the paper reports the results of variant monetary policy simulations at the euro-area level using the AWM and NiGEM models
Subjects: 
euro area
macro models
monetary transmission mechanism
JEL: 
C50
C52
E5
Document Type: 
Working Paper

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