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The Transmission of Monetary Policy in the Euro Area: Are the Effects Different Across Countries?

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  • Gert Peersman

Abstract

This paper analyses whether the effects of the monetary policy of the European Central Bank (ECB) may be different across Euro area countries. First, the limitations in the current empirical literature are highlighted. The paper then suggests how to deal with these limitations and provides new empirical evidence on the effects of a common monetary policy shock across individual member countries. Surprisingly, very similar output effects are found across countries.

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  • Gert Peersman, 2004. "The Transmission of Monetary Policy in the Euro Area: Are the Effects Different Across Countries?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(3), pages 285-308, July.
    • Handle: RePEc:bla:obuest:v:66:y:2004:i:3:p:285-308
    DOI: 10.1111/j.1468-0084.2004.00080.x
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