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The aggregate and country-specific effectiveness of ECB policy: evidence from an external instruments (VAR) approach
This paper studies the transmission of ECB monetary policy, both at the aggregate euro area and the country level. We estimate a VAR model for the euro area in which monetary policy shocks are identified using an external instrument that reflects policy surprises. For that purpose we use the chan...
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| Publicado no: | MAGKS - Joint Discussion Paper Series in Economics (Band 20-2017) |
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| Autoren: | , |
| Formato: | Artigo |
| Idioma: | inglês |
| Publicado em: |
Philipps-Universität Marburg
2017
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| Assuntos: | |
| Acesso em linha: | Texto integral em PDF |
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