Do asymmetries matter for European monetary policy?

Aksoy, Yunus, de Grauwe, Paul ORCID: 0000-0001-5225-1301 and Dewachter, Hans (2002) Do asymmetries matter for European monetary policy? European Economic Review, 46 (3). pp. 443-469. ISSN 0014-2921

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Abstract

In this paper we analyze the impact of economic and institutional (ECB decision rules) asymmetries on the effectiveness of monetarypolicy in Euroland. We consider a model where asymmetric shocks and divergent propagation of shocks in output and inflation are potential causes of tensions within the ECB concerning the conduct of common monetary (interest rate) policy. Welfare implications of the alternative decision procedures are discussed.

Item Type:	Article
Official URL:	http://www.journals.elsevier.com/european-economic...
Additional Information:	© 2002 Elsevier
Divisions:	European Institute
Subjects:	H Social Sciences > HG Finance J Political Science > JZ International relations
JEL classification:	E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy (Targets, Instruments, and Effects)
Date Deposited:	05 Oct 2012 08:39
Last Modified:	11 Dec 2024 22:32
URI:	http://eprints.lse.ac.uk/id/eprint/46562

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