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The Monetary Transmission Mechanism: Evidence from the Industries of Five OECD Countries

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Author Info
Dedola, L.
Lippi, F.

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Abstract

This paper presents new evidence on the monetary transmission mechanism based on the effects of unexpected monetary policy shocks on 21 manufacturing industries in 5 OECD countries (France, Germany, Italy, the UK and the US). The goal is twofold. First, to document the cross-industry heterogeneity of monetary policy effects. Second, to explain this heterogeneity in terms of microeconomic characteristics suggested by theory, using an original firm-level database.

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Publisher Info
Paper provided by Banca Italia - Servizio di Studi in its series Papers with number 389.

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Length: 46 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:fth:banita:389

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Postal: Banca d'Italia-Servizio Studi-Divisione Biblioteca e Pubblicazioni - Via N azionale, 91 -00184 Rome, Italy.
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Related research
Keywords: MONETARY POLICY MANUFACTURING MICROECONOMICS

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Find related papers by JEL classification:
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Capital and Ownership Structure

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  21. Favero, Carlo A & Flabbi, Luca & Giavazzi, Francesco, 1999. "The Transmission Mechanism of Monetary Policy in Europe: Evidence from Banks' Balance Sheets," CEPR Discussion Papers 2303, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  30. Mariassunta Giannetti, 2000. "On the Mechanics of Migration Decisions; Skill Complementarities and Endogenous Price Differentials," Temi di discussione (Economic working papers) 366, Bank of Italy, Economic Research Department. [Downloadable!]
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