Jannsen, Nils; Klein, Melanie - Institut für Weltwirtschaft (IfW) - 2011
This paper analyzes the international transmission effects of euro area monetary policy shocks in to other western … VAR model of the euro area and augment it consecutively by the foreign variables of interest. We find that a monetary … policy shock in the euro area leads to a largely similar change in the interest rate and in GDP in these other western …