Mojon, Benoît; Kashyap, Anil K.; Angeloni, Ignazio; … - European Central Bank - 2002
propose a comprehensive description of how monetary policy affects the euro area economy. We focus mainly on three questions …? (3) if not, is the bank lending channel a likely candidate to complete the story? We find plausible euro-area wide … (relative to consumption) seems to play a larger role in euro area monetary policy transmission than in the US. We cannot reject …