search query: @author Favero, C. A. / total: 2
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| Author: | Bagliano, F. C. Favero, C. A. |
| Title: | Information from financial markets and VAR measures of monetary policy |
| Journal: | European Economic Review
1999 : APR, VOL. 43:4-6, p. p. 825-837 |
| Index terms: | MONETARY POLICY MODELS EXCHANGE RATES GERMANY USA |
| Language: | eng |
| Abstract: | Exogenous measures of monetary policy shocks, directly derived from financial market information, are used in close (U.S.) and open (U.S-Germany) economy VAR models to evaluate the robustness of the dynamic effect of monetary policy obtained from traditional identified VAR. The empirical analysis confirms the main features of the monetary policy transmission mechanism in U.S. and Germany, explicitly addressing the issue of simultaneity btw. the German policy interest rate and the U.S. dollar (USD) - DMark (DEM) exchange rate. |
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