Changing Monetary Transmission Mechanisms within the EU
AbstractThis paper presents a comparative analysis of monetary transmission mechanisms and changes in them after the "second ERM" in March 1983. The empirical model investigates the determination of money, income, prices and interest rates in Germany, Denmark, and Italy based on the cointegrated VAR model. The empirical results provide new insight on the macroeconomic effects of joining the ERM and financial deregulation.
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Bibliographic InfoPaper provided by University of Copenhagen. Department of Economics in its series Discussion Papers with number 97-18.
Length: 32 pages
Date of creation: Dec 1997
Date of revision:
Publication status: Published in: Empirical Economics 23(3) 1998, 455-481
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cointegration; long-run impact; money demand; IS-LM; monetary policy; capital liberalization;
Other versions of this item:
- Katarina Juselius, 1998. "Changing monetary transmission mechanisms within the EU," Empirical Economics, Springer, vol. 23(3), pages 455-481.
- C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
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