Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/152684
Authors: 
Angeloni, Ignazio
Coenen, Günter
Smets, Frank
Year of Publication: 
2003
Series/Report no.: 
ECB Working Paper 250
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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