Do asymmetries matter for European monetary policy?

被引：50

作者：

Aksoy, Y ^{[1
]}

De Grauwe, P ^{[1
]}

Dewachter, H ^{[1
]}

机构：

[1] Katholieke Univ Leuven, Ctr Econ Studies, Dept Econ, B-3000 Louvain, Belgium

来源：

EUROPEAN ECONOMIC REVIEW | 2002年 / 46卷 / 03期

关键词：

EMU; linear feedback rules; monetary stability;

D O I：

10.1016/S0014-2921(01)00160-X

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper we analyze the impact of economic and institutional (ECB decision rules) asymmetries on the effectiveness of monetary policy 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. (C) 2002 Elsevier Science B.V. All rights reserved.

引用

页码：443 / 469

页数：27

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