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This paper examines how the pass-through of monetary policy measures in 6 EMU countries has evolved over time and whether there is convergence in monetary transmission. The countries included are: Belgium, France, Germany, Italy, the Netherlands and Spain, and the sample period is 1980-2000. We...
Persistent link: https://www.econbiz.de/10011398432
This paper studies the reaction of the mean and volatility of the euro-dollar exchange rate to statements of ECB officials during the first years of EMU. We focus on statements on monetary policy and the (potential) strength of the euro. We find that the Bundesbank has dominated the news...
Persistent link: https://www.econbiz.de/10011507830
This paper examines whether there is a political budget cycle (PBC) in countries in the euro area. Using a multivariate model for the period 1999-2004 and various election indicators we find strong evidence that the Stability and Growth Pact has not restricted fiscal policy makers in the euro...
Persistent link: https://www.econbiz.de/10003147810
We review studies on monetary transmission in the EU countries using the VAR approach and analyse why they often lead … to divergent outcomes. Firstly, we estimate 43 VAR models across ten EU countries and compare the robustness of the …
Persistent link: https://www.econbiz.de/10002521453
We review studies on monetary transmission in the EU countries using the VAR approach and analyse why they often lead … to divergent outcomes. Firstly, we estimate 43 VAR models across ten EU countries and compare the robustness of the …
Persistent link: https://www.econbiz.de/10002521661
This paper examines whether there is a political budget cycle (PBC) in countries in the euro area. Using a multivariate model for the period 1999-2004 and various election indicators we find strong evidence that the Stability and Growth Pact has not restricted fiscal policy makers in the euro...
Persistent link: https://www.econbiz.de/10003120672
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