Clostermann, Joerg; Seitz, Franz - In: Journal of Economics and Statistics (Jahrbuecher fuer … 222 (2002) 6, pp. 641-655
The present paper uses the P-Star approach to analyze the real and price effects of German monetary policy on the basis of a multivariate vector-error-correction-model. One surprising result is that the Bundesbank does not cause the price effects of its monetary policy actions directly via...