Asymmetric monetary policy effects in EMU

This paper develops a semi-structural modelling approach to study asymmetric monetary transmission in Europe. A system of dynamic equations containing reaction functions for monetary policy as well as output gap and inflation equations is simultaneously estimated for France, Germany and Italy. We fi...

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Veröffentlicht in:	Applied economics 2006-06, Vol.38 (10), p.1123-1134
Hauptverfasser:	Clausen, Volker, Hayo, Bernd
Format:	Artikel
Sprache:	eng
Schlagworte:	Economic models European Monetary Union Inflation Monetary policy Studies Supply & demand
Online-Zugang:	Volltext
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