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dc.contributor.authorClausen, Volkeren
dc.contributor.authorHayo, Bernden
dc.date.accessioned2010-09-01T09:48:44Z-
dc.date.available2010-09-01T09:48:44Z-
dc.date.issued2002-
dc.identifier.urihttp://hdl.handle.net/10419/39616-
dc.description.abstractThis 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.isoengen
dc.publisher|aRheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI) |cBonnen
dc.relation.ispartofseries|aZEI Working Paper |xB 04-2002en
dc.subject.jelE52en
dc.subject.jelF41en
dc.subject.ddc330en
dc.subject.keywordEuropean Monetary Unionen
dc.subject.keywordMonetary Policyen
dc.subject.keywordSemi-structural modellingen
dc.subject.stwTransmissionsmechanismusen
dc.subject.stwGeldpolitiken
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwSchätzungen
dc.subject.stwFrankreichen
dc.subject.stwDeutschlanden
dc.subject.stwItalienen
dc.titleAsymmetric monetary policy effects in EMU-
dc.type|aWorking Paperen
dc.identifier.ppn351208380en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zeiwps:B042002en

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