Arghyrou, Michael G.; Gadea, Maria Dolores - In: Journal of Policy Modeling 34 (2012) 1, pp. 16-34
We model pre-euro Spanish monetary policy and use our findings to assess the compatibility of the interest rates set by the ECB since 1999 with Spanish macro-fundamentals. We find that in the 1990s Spain implemented successfully a monetary strategy tailored to its own domestic fundamentals; and...