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Persistent link: https://www.econbiz.de/10001497806
Persistent link: https://www.econbiz.de/10001533329
Using area-wide data, we simulate the responses of inflation and real output following monetary shocks in the EMU. We find that short-term interest rate shocks have a significant impact on real activity, but hardly on prices. M3 shows a perverse short-term response to a monetary contraction,...
Persistent link: https://www.econbiz.de/10010854301
Using area-wide data, we perform a VAR analysis to simulate the responses of inflation and real output following monetary shocks in the EMU. We find that short-term interest rate shocks have a significant impact on real activity, but hardly on prices. M3 shows a perverse short-term response to a...
Persistent link: https://www.econbiz.de/10005101919
Using area-wide data, we simulate the responses of inflation and real output following monetary shocks in the EMU. We find that short-term interest rate shocks have a significant impact on real activity, but hardly on prices. M3 shows a perverse short-term response to a monetary contraction,...
Persistent link: https://www.econbiz.de/10010754200