Monetary Policy and Exchange Rate Dynamics in the Spanish Economy
As the Spanish economy gets more integrated in international markets, competitiveness becomes a key determinant of the monetary transmission. In this paper we trace out the dynamic response of prices, output and the exchange rate following a monetary policy shock. We estimate a structural VAR model whose identification scheme is based on the long run properties common to a large class of models.
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|Date of creation:||1997|
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|Contact details of provider:|| Web page: http://www.bde.es/|
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