The heterogeneous effects of monetary policy in the euro area: a sectoral approach

Isabelle Cadoret, Nathalie Payelle () and Jean-Jacques Durand ()
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Nathalie Payelle: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique
Jean-Jacques Durand: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique

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Abstract: The goal of the paper is to document the extent and the sources of asymetries in the effects of monetary policy in a currency union. Using disaggregated data at the sectoral level from five european countries, we show that sector-specific and espacially country-specific factors both explain the major part of monetary policy effects. Moreover, these factors tend to enhance the common impact of monetary policy.

Keywords: monetary policy; transmission mechanism; asymetries; currency union (search for similar items in EconPapers)
Date: 2006-05-11
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Citations: View citations in EconPapers (1)

Published in Journées de l'AFSE, May 2006, Strasbourg, France. pp.17

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Working Paper: The heterogeneous effects of monetary policy in the euro area: a sectoral approach (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00078017

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