Angeloni, Ignazio; Ehrmann, Michael - European Central Bank - 2003
We examine the euro area monetary policy transmission process using post-1999 data, with two main questions in mind …: has it changed after and because of EMU and, if so, is it becoming homogeneous across countries. Given the data … evidence that the transmission through banks has become more potent and homogeneous across countries because of EMU. On the …