Economics at your fingertips  

The transmission of monetary policy and technology shocks in the euro area

Nuno Alves, Jose Brandao de Brito, Sandra Gomes () and João Sousa ()

Applied Economics, 2009, vol. 43, issue 8, 917-927

Abstract: This article analyses the response of a set of euro area macroeconomic variables to monetary policy and technology shocks based on structural Vector Auto-regressions (VARs). The data set runs from 1970:1 until 2006:4 and includes a novel long-run series for hours worked per capita in the euro area. We find that real macroeconomic variables follow a hump-shaped response after monetary policy shocks and jump on impact after technology shocks. We also provide evidence that hours worked fall after a positive technology shock. These conclusions are robust to different sample periods and specifications of the variables.

Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link) (text/html)
Access to full text is restricted to subscribers.

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:

Ordering information: This journal article can be ordered from

DOI: 10.1080/00036840802600186

Access Statistics for this article

Applied Economics is currently edited by Anita Phillips

More articles in Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

Page updated 2021-06-13
Handle: RePEc:taf:applec:v:43:y:2009:i:8:p:917-927