The paper studies the transmission of monetary policy shocks in Italy, by means of a structural VAR, using a long data sample; focusing on a long sample period permits a comparison between the Italian evidence and the international literature and makes it possible to test the robustness of the...

This paper evaluates the effects of unanticipated monetary policy shocks on Italian output on the basis of highly disaggregated data and a VAR methodology. The impact of unexpected changes in the money market interest rate on the pattern of industrial production - based on qualitative business...