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exchange rate models for the synthetic euro. Using the same data set, variable definitions and sample period offers the … ECB's small-sized euro area wide macro-economic model. In this order the approaches feature an increasing degree of … results confirm the high likelihood for the euro having been undervalued in Q4 2000, while stressing the significant empirical …
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This paper applies the identified VAR methodology to synthetic euro area data from 1980 till 1998 to study the macro …-economic effects of an unexpected change in monetary policy in the euro area. The focus is on the area-wide monetary transmission. It … is shown that the overall macro-economic effects of a monetary policy shock in the euro area are very similar to those …
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Overall, the ECB managed monetary policy quite satisfactory in the first phase of EMU. Nevertheless, this paper asks whether monetary policy could not have been improved. In the last three years, Euroland was confronted with the first external shock. Oil prices increased considerably, leading to...
Persistent link: https://www.econbiz.de/10011492736
Overall, the ECB managed monetary policy quite satisfactory in the first phase of EMU. Nevertheless, this paper asks whether monetary policy could not have been improved. In the last three years, Euroland was confronted with the first external shock. Oil prices increased considerably, leading to...
Persistent link: https://www.econbiz.de/10011435104
in an estimated DSGE model of euro area. We then analyse its impact on optimal monetary policy and investigate the …
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