Weber, Axel A.; Gerke, Rafael; Worms, Andreas - Bank für Internationalen Zahlungsausgleich <Basel> - 2009
Empirical evidence on whether the euro area monetary transmission process has changed is, at best, mixed. We argue that … standard VAR for the euro area and by searching for a possible break date. We find a significant break point around 1996 and … evidence for the euro area could be biased by an "atypical" interim period 1996-1999.This is part of a series of BIS Working …