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Persistence, the transmission mechanism and robust monetary policy
Ignazio Angeloni () and
Frank Rafael Smets
Working Paper Series from European Central Bank
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. JEL Classification: E4, E5
Keywords: euro area; monetary policy; Persistence; transmission process (search for similar items in EconPapers)
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Related works: Journal Article: Persistence, The Transmission Mechanism And Robust Monetary Policy (2003) Working Paper: Persistence, the Transmission Mechanism and Robust Monetary Policy (2003) This item may be available elsewhere in EconPapers: Search for items with the same title.
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Persistent link: http://EconPapers.repec.org/RePEc:ecb:ecbwps:20030250
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