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.Full text not available from this repository.
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.
|Keyword(s) / Subject(s):||EMU, linear feedback rules, monetary stability|
|School or Research Centre:||Birkbeck Schools and Research Centres > School of Business, Economics & Informatics > Economics, Mathematics and Statistics|
|Depositing User:||Dr Yunus Aksoy|
|Date Deposited:||26 Mar 2008 15:29|
|Last Modified:||17 Apr 2013 12:14|
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