Monetary Policy in EMU when the Transmission is Asymmetric and Uncertain

In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process increases the need to take into account information about national economies in the formulation of optimal monetary policies in a monetary union.

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Year of publication:	2003
Authors:	Grauwe, Paul De ; Sénégas, Marc-Alexandre
Institutions:	CESifo

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Extent:	application/pdf
Series:	CESifo Working Paper Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 891
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005765981