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This paper looks at some implications of data uncertainty for monetary policy. We combine national accounts data revisions with optimal control and filtering experiments on a calibrated model to discuss policy implications of price-versus-volume data uncertainty in GDP data for the United...
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process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO …The relation between the ECB's main refinancing (MRO) rates and the money market is key for the monetary transmission … disconnection of money market rates from the policy-intended interest rate level. These findings support the fixed rate full …
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We investigate the pass-through of monetary policy to bank lending rates in the euro area during the sovereign debt …
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The euro area crisis is often linked to the emergence of current account imbalances. As most of the deficit countries … of claims of domestic banks on debtors in other euro-area countries, and an increase is expected to lead to higher …
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