Monetary Policy in EMU when the Transmission is Asymmetric and Uncertain
AbstractIn this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process increases the need to take into account information about national economies in the formulation of optimal monetary policies in a monetary union.
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Bibliographic InfoPaper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 891.
Date of creation: 2003
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-05-02 (All new papers)
- NEP-IFN-2004-05-02 (International Finance)
- NEP-MON-2004-05-02 (Monetary Economics)
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