La política monetaria única y sus efectos regionales

Carlos J. Rodríguez Fuentes, Fernanda Faria Silva and David Padrón Marrero
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Carlos J. Rodríguez Fuentes: Universidad de La Laguna
Fernanda Faria Silva: Universidade Federal de Ouro Preto y CEDEPLAR
David Padrón Marrero: Universidad de La Laguna

EKONOMIAZ. Revista vasca de Economía, 2013, vol. 84, issue 03, 156-181

Abstract: Increasing interest in exploring the possible asymmetric effects of Single Monetary Policy (SMP) on euro zone countries has resulted in a great deal of research, most of it empirical in nature, into the response of GDP and prices in European countries in the face of the monetary shocks caused by the monetary policy measures adopted by the ECB. Much of this research points to the existence of major differences not just in the overall impact of monetary shocks on growth and prices in different countries but also in their timing. This has been interpreted as a sign of regional asymmetries that could be caused by implementing the SMP in the euro zone. Taking into account the experience and empirical evidence built up over the almost-fifteen-year history of the euro zone, proposals are made for changes that should be introduced in the current operational framework of the SMP with a view to palliating those asymmetries.

Keywords: eurozona; asimetrías regionales; política monetaria (search for similar items in EconPapers)
JEL-codes: E32 E52 E61 (search for similar items in EconPapers)
Date: 2013
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