Chocs d Offre et Optimalit de la Politique Mon taire dans la Zone Euro

P. F ve, Julien Matheron and Jean-Guillaume Sahuc
Authors registered in the RePEc Author Service: Patrick Fève

Working papers from Banque de France

Abstract: This article assesses monetary policy's performances in the Euro zone in the face of supply shocks. We determine the responses of output, inflation, labor share and the nominal interest rate to a supply shock as identified through a structural VAR model. We then develop a DSGE model with nominal rigidities subject to the optimal monetary policy. The model is estimated and tested on the basis of its ability to reproduce the responses drawn from the VAR model. Our results suggest that assuming optimal monetary policy allows for a satisfying fit to the data.

Keywords: Supply shocks; SVAR; Optimal Monetary Policy. (search for similar items in EconPapers)
JEL-codes: E31 E32 E52 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2008
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Related works:
Journal Article: Chocs d'offre et optimalité de la politique monétaire dans la zone euro (2008)
Working Paper: Chocs d’Offre et Optimalité de la Politique Monétaire dans la Zone Euro (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:bfr:banfra:200

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