IDEAS home Printed from https://ideas.repec.org/a/agr/journl/v6(501)y2006i6(501)p.html
   My bibliography  Save this article

Adjusting Shocks Management in Euro Zone. The Asymmetrical Impact of the ECB Monetary Policy

Author

Listed:
  • Marius-Corneliu Marinas

    (Academy of Economic Studies, Bucharest)

Abstract

The loss of the sovereign interest rate and exchange rate instruments is the main potential cost of joining a monetary union since it becomes more difficult to adjust swiftly to shocks. In the case of demand shocks that affect all countries more or less equally (symmetric shocks), the loss of monetary autonomy implied by EMU is in principle of less concern, because the area-wide policy would tend to deliver monetary conditions that are appropriate for each country. However, this may not always be the case if the transmission mechanism operates significantly differently in the euro area, because then a uniform policy response would not yield uniform effects. In the case of supply shocks – whether country specificor- area-wide – lasting changes in relative prices and production patterns are needed.

Suggested Citation

  • Marius-Corneliu Marinas, 2006. "Adjusting Shocks Management in Euro Zone. The Asymmetrical Impact of the ECB Monetary Policy," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 6(6(501)), August.
    • Handle: RePEc:agr:journl:v:6(501):y:2006:i:6(501):p:
    as

    Download full text from publisher

    File URL: http://store.ectap.ro/articole/106.pdf
    Download Restriction: no
    File URL: http://www.ectap.ro/articol.php?id=106&rid=6
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:agr:journl:v:6(501):y:2006:i:6(501):p:. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Mircea Dinu (email available below). General contact details of provider: https://edirc.repec.org/data/agerrea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.