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https://hdl.handle.net/10419/39616
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Clausen, Volker | en |
dc.contributor.author | Hayo, Bernd | en |
dc.date.accessioned | 2010-09-01T09:48:44Z | - |
dc.date.available | 2010-09-01T09:48:44Z | - |
dc.date.issued | 2002 | - |
dc.identifier.uri | http://hdl.handle.net/10419/39616 | - |
dc.description.abstract | This paper uses a semi-structural dynamic modelling approach to investigate asymmetric monetarytransmission 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 responsesare still consistent with the notion that the transmission mechanism is homogeneous across the threemajor EMU countries. However, monetary policy impulses show a relatively stronger effect on theoutput gap in Italy and Germany. Out-of-sample tests do not find a structural break in thetransmission mechanisms prior to EMU. | en |
dc.language.iso | eng | en |
dc.publisher | |aRheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI) |cBonn | en |
dc.relation.ispartofseries | |aZEI Working Paper |xB 04-2002 | en |
dc.subject.jel | E52 | en |
dc.subject.jel | F41 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | European Monetary Union | en |
dc.subject.keyword | Monetary Policy | en |
dc.subject.keyword | Semi-structural modelling | en |
dc.subject.stw | Transmissionsmechanismus | en |
dc.subject.stw | Geldpolitik | en |
dc.subject.stw | Europäische Wirtschafts- und Währungsunion | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | Frankreich | en |
dc.subject.stw | Deutschland | en |
dc.subject.stw | Italien | en |
dc.title | Asymmetric monetary policy effects in EMU | - |
dc.type | |aWorking Paper | en |
dc.identifier.ppn | 351208380 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:zeiwps:B042002 | en |
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