Monetary Policy and Exchange Rate Dynamics in the Spanish Economy

As the Spanish economy gets more integrated in international markets, competitiveness becomes a key determinant of the monetary transmission. In this paper we trace out the dynamic response of prices, output and the exchange rate following a monetary policy shock. We estimate a structural VAR model whose identification scheme is based on the long run properties common to a large class of models.

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Year of publication:	1997
Authors:	Andrés, Javier ; Mestre, Ricardo ; Vallés, Javier
Institutions:	Banco de España
Subject:	MONETARY POLICY \| EXCHANGE RATE

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Series:	Banco de España Working Papers.
Type of publication:	Book / Working Paper
Notes:	36 pages
Classification:	F31 - Foreign Exchange ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005590676