Camarero, M.; Ordonez, J.; Tamarit, C. R. - In: Applied Economics 34 (2002) 17, pp. 2201-2212
This paper analyses the monetary policy channels in Spain using a cointegrated structural VAR approach which explicitly accounts for endogenous policy reactions in a small open economy. Evidence is found of one cointegrating relation which is identified as a long-run money demand function. In...