haku: @author Dewachter, H. / yhteensä: 6
viite: 3 / 6
| Tekijä: | Aksoy, Y. Grauwe, P. De Dewachter, H. |
| Otsikko: | Do asymmetries matter for European monetary policy? |
| Lehti: | European Economic Review
2002 : MAR, VOL. 46:3, p. 443-469 |
| Asiasana: | MONETARY POLICY EUROPE INTEREST RATES |
| Kieli: | eng |
| Tiivistelmä: | In this paper the authors analyze the impact of economic and institutional (ECB decision rules) asymmetries on the effectiveness of monetary policy in Euroland. The authors of this article consider a model where asymmetric shocks and divergent propagation of shocks in output and inflation are potential causes of tensions within the ECB concerning the conduct of common monetary (interest rate) policy. The authors of the article consider welfare implications of the alternative decision procedures and discuss them. The paper provides a substantial list of references on this subject. |
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