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    Do asymmetries matter for European monetary policy?

    Aksoy, Yunus and de Grauwe, P. and Dewachter, H. (2002) Do asymmetries matter for European monetary policy? European Economic Review 46 (3), pp. 443-469. ISSN 0014-2921.

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    Abstract

    In this paper we analyze the impact of economic and institutional (ECB decision rules) asymmetries on the effectiveness of monetary policy in Euroland. We consider a model where asymmetric shocks and divergent propagation of shocks in output and inflation are potential causes of tensions within the ECB concerning the conduct of common monetary (interest rate) policy. Welfare implications of the alternative decision procedures are discussed.

    Metadata

    Item Type: Article
    Keyword(s) / Subject(s): EMU, linear feedback rules, monetary stability
    School: Birkbeck Schools and Departments > School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Research Centre: Applied Macroeconomics, Birkbeck Centre for
    Depositing User: Yunus Aksoy
    Date Deposited: 26 Mar 2008 15:29
    Last Modified: 06 Dec 2016 14:49
    URI: http://eprints.bbk.ac.uk/id/eprint/163

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