| dc.creator |
Höppner, Florian |
|
| dc.creator |
Gottschalk, Jan |
|
| dc.date |
2001 |
|
| dc.date.accessioned |
2013-10-16T06:57:12Z |
|
| dc.date.available |
2013-10-16T06:57:12Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/17886 |
|
| dc.identifier |
ppn:334080886 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/17886 |
|
| dc.description |
This paper investigates within a SVAR framework the effects of anticipated monetary policy in the euro area. Building on a procedure recently proposed by Cochrane which yields the response of output to an anticipated monetary policy impulse, we show that in the past twenty years anticipated monetary policy has had a considerable influence on output. Moreover, we compute the output effects of the systematic monetary policy response to aggregate demand and supply shocks and find that monetary policy pursues a counter-cyclical policy in response to demand shocks and, despite considerable lags, is pro-cyclical with regard to supply shocks. |
|
| dc.language |
eng |
|
| dc.publisher |
Kiel Institute for the World Economy (IfW) Kiel |
|
| dc.relation |
Kieler Arbeitspapiere 1074 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
C52 |
|
| dc.subject |
C32 |
|
| dc.subject |
E52 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
Vector Autoregression |
|
| dc.subject |
Systematic Monetary Policy |
|
| dc.subject |
Historical De-composition |
|
| dc.subject |
Geldpolitik |
|
| dc.subject |
Schock |
|
| dc.subject |
Erwartungstheorie |
|
| dc.subject |
Wirtschaftspolitische Wirkungsanalyse |
|
| dc.subject |
Konjunktur |
|
| dc.subject |
Europäische Wirtschafts- und Währungsunion |
|
| dc.subject |
VAR-Modell |
|
| dc.subject |
Schätzung |
|
| dc.subject |
EU-Staaten |
|
| dc.title |
Measuring the Effects of Monetary Policy in the Euro Area: The Role of Anticipated Policy |
|
| dc.type |
doc-type:workingPaper |
|
| dc.coverage |
1980-2000 |
|