Do Euro Area Countries Respond Asymmetrically to the Common Monetary Policy?
Antonio Conti () and
Oxford Bulletin of Economics and Statistics, 2014, vol. 76, issue 5, 693-714
We investigate the possible existence of asymmetries among Euro Area countries reactions to the European Central Bank monetary policy. Our analysis is based on a Structural Dynamic Factor model estimated on a large panel of Euro Area quarterly variables. Although the introduction of the euro has changed the monetary transmission mechanism in the individual countries towards a more homogeneous response, we find that differences still remain between North and South Europe in terms of prices and unemployment. These results are the consequence of country-specific structures, rather than of European Central Bank policies.
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Working Paper: Do euro area countries respond asymmetrically to the common monetary policy? (2013)
Working Paper: Do Euro Area Countries Respond Asymmetrically to the Common Monetary Policy? (2013)
Working Paper: Do Euro area countries respond asymmetrically to the common monetary policy? (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:bla:obuest:v:76:y:2014:i:5:p:693-714
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