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Persistent link: https://ebvufind01.dmz1.zbw.eu/10001775300
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This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10014122176
This paper analyzes the dynamic effects of anticipated and unanticipated oil price increases in a small two-country monetary union, which is simultaneously characterized by asymmetric wage adjustments and asymmetric interest rate sensitivities of private absorption. Common external oil price...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10013127913
Persistent link: https://ebvufind01.dmz1.zbw.eu/10009718823
This paper analyzes the dynamic effects of anticipated and unanticipated oil price increases in a small two-country monetary union, which is simultaneously characterized by asymmetric wage adjustments and asymmetric interest rate sensitivities of private absorption. Common external oil price...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10008935232
This paper investigates the dynamic effects of monetary and fiscal policy in a monetary union, which is characterized by asymmetric interest rate transmission. This asymmetry gives rise to intertemporal reversals in the relative effectiveness of policy on member country outputs. The direction...
Persistent link: https://ebvufind01.dmz1.zbw.eu/10010494186