Angeloni, Ignazio; Kashyap, Anil K.; Mojon, Benoît; … - In: Proceedings (2003), pp. 1265-1317
We revisit recent evidence on how monetary policy affects output and prices in the U.S. and in the euro area. The response patterns to a shift in monetary policy are similar in most respects, but differ noticeably as to the composition of output changes. In the euro area investment is the...