Monetary Policy in EMU when the Transmission is Asymmetric and Uncertain

Paul De Grauwe and Marc-Alexandre Senegas

No 891, CESifo Working Paper Series from CESifo

Abstract: In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process increases the need to take into account information about national economies in the formulation of optimal monetary policies in a monetary union.

Date: 2003
New Economics Papers: this item is included in nep-ifn and nep-mon
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Citations: View citations in EconPapers (13)

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