We investigate the possible existence of asymmetries among Euro Area countries reactions to the European Central Bank monetary policy. Our analysis is based on a Structural Dynamic Factor model estimated on a large panel of quarterly variables including data on the aggregate Euro Area, as well...

This paper, by the estimation of a structural VAR model on aggregate data from 1980 to 2002, examines the macroeconomic effects of an unexpected change in monetary policy on the euro area. The results are in line with the economic theory and they are close to the one estimated by other authors....

DThis paper estimates a Structural Dynamic Factor Model on a panel of 102 US quarterly series. We model economic comovements by means of 5 underlying structural shocks (oil price, productivity, aggregate demand, monetary policy, and housing demand). The results of the benchmark model (impulse...

This paper, by the estimation of a structural VAR model on aggregate data from 1980 to 2002, examines the macroeconomic effects of an unexpected change in monetary policy on the euro area. The results are in line with the economic theory and they are close to the one estimated by other authors....