Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/152684 
Year of Publication: 
2003
Series/Report no.: 
ECB Working Paper No. 250
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
In this paper we first explore the impact of nominal and real persistence on the transmission process of various shocks in an estimated DSGE model of euro area. We then analyse its impact on optimal monetary policy and investigate the performance of various monetary policies when the policy maker is uncertain about the degree of nominal and real persistence.
Subjects: 
euro area
monetary policy
Persistence
transmission process
JEL: 
E4
E5
Document Type: 
Working Paper

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