Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/75812 
Year of Publication: 
2001
Series/Report no.: 
CESifo Working Paper No. 465
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
This paper examines how the pass-through of monetary policy measures in 6 EMU countries has evolved over time and whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the Netherlands and Spain, and the sample period is 1980-2000. We conclude that major differences in pass-through exist in our sample, both in terms of initial as well as long-run responses to policy-induced interest rate changes. There is no indication for convergence of monetary policy transmission.
Subjects: 
Monetary transmission
pass-through
interest rate stickiness
EMU
Document Type: 
Working Paper
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