Changing monetary transmission mechanisms within the EU

The paper presents a comparative analysis of monetary transmission mechanisms and changes in them after the "second ERM" in March 1983. The empirical model investigates the determination of money, income, prices, and interest rates in Germany, Denmark, and Italy based on the cointegrated VAR model. It provides empirical results on the macroeconomic effects of joining the ERM and financial deregulation.

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Year of publication:	1998-09-01
Authors:	Juselius, Katarina
Published in:	Empirical Economics. - Department of Economics and Finance Research and Teaching. - Vol. 23.1998, 3, p. 455-481
Publisher:	Department of Economics and Finance Research and Teaching
Subject:	Cointegration \| long-run impact \| money demand

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Extent:	application/pdf
Type of publication:	Article
Classification:	C32 - Time-Series Models ; E41 - Demand for Money ; E52 - Monetary Policy (Targets, Instruments, and Effects)
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005758307