Panel Data Analysis of Monetary Transmission Mechanism for European Union Countries

Dina Cakmur Yildirtan and Selin Sarili

Journal of Social Science Studies, 2017, vol. 4, issue 2, 42-56

Abstract: Monetary transmission mechanism is the mechanism which shows in what ways and what extent interaction between the real economy-monetary policy, impacts aggregate demand and production. While transmission channels or mechanisms traditionally classified they divided into three categories; interest rates, Exchange rates and other asset prices. In this study to test the existence of the European debt crisis by the monetary transmission mechanism, 15 members of European Union country by using annual (2002-2014) data set were included into study. We use panel unit root tests to analyze whether the variables in the model are stationary or not. For the countries included in the study, panel causality tests developed by Granger is applied. Panel Vector Autoregressive Model has been estimated and results of Impulse-Response Analysis and Variance Decomposition have been interpreted.

Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.macrothink.org/journal/index.php/jsss/article/view/10731 (application/pdf)
http://www.macrothink.org/journal/index.php/jsss/article/view/10731 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mth:jsss88:v:4:y:2017:i:2:p:42-56

Access Statistics for this article

Journal of Social Science Studies is currently edited by John Smith

More articles in Journal of Social Science Studies from Macrothink Institute
Bibliographic data for series maintained by Technical Support Office ( this e-mail address is bad, please contact ).