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

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  • Dedola, L.
  • Lippi, F.

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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Bibliographic 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.
Web page: http://www.bancaditalia.it/
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Keywords: MONETARY POLICY ; MANUFACTURING ; MICROECONOMICS;

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References

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