Blaes, Barno - Volkswirtschaftliches Forschungszentrum <Frankfurt, Main> - 2009
This paper investigates the transmission of monetary policy in the euro area based onthe factor augmented vector autoregressive approach of Bernanke, Boivin and Eliasz(2005) as well as on a standard VAR model. We focus on the reaction of monetaryaggregates to a one-off monetary policy shock. We...