Benchimol, Jonathan; Fourçans, André - HAL - 2012
In this paper, we test two models of the Eurozone, with a special emphasis on the role of money and monetary policy … during crises. The role of separability between money and consumption is investigated further and we analyse the Euro area … economy during three different crises: 1992, 2001 and 2007. We
find that money has a rather signi
ficant role to play in …