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Persistent link: https://www.econbiz.de/10003862143
This paper characterizes the transmission mechanism of monetary shocks across countries of the euro area, documents how … this mechanism has changed with the introduction of the euro, and explores some potential explanations. The factor …-augmented VAR (FAVAR) framework used is sufficiently rich to jointly model the euro area dynamics while permitting the transmission …
Persistent link: https://www.econbiz.de/10013233890
This paper characterizes the transmission mechanism of monetary shocks across countries of the euro area, documents how … this mechanism has changed with the introduction of the euro, and explores some potential explanations. The factor …-augmented VAR (FAVAR) framework used is sufficiently rich to jointly model the euro area dynamics while permitting the transmission …
Persistent link: https://www.econbiz.de/10012464457
Persistent link: https://www.econbiz.de/10003318700
To investigate the extent to which the transparency of the Bank of Canada’s monetary policy has improved, the authors examine empirically – over the period 30 October 2000 to 31 May 2007 – the reaction of Canadian financial markets to official Bank communications, and in particular their...
Persistent link: https://www.econbiz.de/10008696652
in the GDP price de ator. We resort to the fixed effects and to the random effects models for a panel of 12 euro area …
Persistent link: https://www.econbiz.de/10013335018
The uncovered interest rate parity condition lies at the heart of the "impossible trinity", stating that the three objectives of fixed exchange rates, free capital flows, and independent monetary policy cannot be pursued simultaneously. We argue that although monetary unification does indeed...
Persistent link: https://www.econbiz.de/10011926988
Persistent link: https://www.econbiz.de/10003330892
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