المستودع الأكاديمي جامعة المدينة

Measuring the Effects of Monetary Policy in the Euro Area: The Role of Anticipated Policy

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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


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