Monetary Transmission Mechanisms in Euroland

Nikolaus A Siegfried

Quantitative Macroeconomics Working Papers from Hamburg University, Department of Economics

Abstract: Policy actions by the ECB have potentially asymmetric effects across countries in Euroland. However, it is unclear whether these differences remain or whether convergence has taken place. This paper considers monetary policy transmission into real activity in a SVAR model. Extending earlier work on the monetary transmission mechanism in Euroland I incorporate cointegrating relationships, I use a richer dataset and I look at subperiods to consider convergence. I conclude that differences among countries do exist but have lost importance recently. As a side effect, I find evidence that only multiple channels of monetary transmission explain the observed transmission mechanism satisfactorily.

Keywords: Monetary Policy; Transmission Mechanism; Structural VAR; Cointegration (search for similar items in EconPapers)
JEL-codes: C22 C53 E52 (search for similar items in EconPapers)
Pages: 16 pages
Date: 2000-02
References: Add references at CitEc
Citations: View citations in EconPapers (2)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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: https://EconPapers.repec.org/RePEc:ham:qmwops:20003

Access Statistics for this paper

More papers in Quantitative Macroeconomics Working Papers from Hamburg University, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by ().