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The Real Effects of Monetary Policy in the European Union :, What Are the Differences?, Ramana Ramaswamy, Torsten Sloek

Label
The Real Effects of Monetary Policy in the European Union :, What Are the Differences?, Ramana Ramaswamy, Torsten Sloek
Language
eng
Abstract
The main finding of this paper is that the European Union (EU) countries fall into two broad groups according to the effects of monetary policy adjustments on economic activity. Estimates based on a vector autoregression model indicate that the full effects of a contractionary monetary shock on output in one group of EU countries (Austria, Belgium, Finland, Germany, Netherlands, and United Kingdom) take roughly twice as long to occur, but are almost twice as deep as in the other group (Denmark, France, Italy, Portugal, Spain, and Sweden). The paper discusses the implications of these results for the effective conduct of monetary policy in the euro area
resource.governmentPublication
international or intergovernmental publication
Literary Form
non fiction
Main title
The Real Effects of Monetary Policy in the European Union :
Nature of contents
dictionaries
Responsibility statement
Ramana Ramaswamy, Torsten Sloek
Series statement
IMF Working Papers
Sub title
What Are the Differences?
Contributor
Content
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