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Changing monetary transmission mechanisms within the EU

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Abstract

The paper presents a comparative analysis of monetary transmission mechanisms and changes in them after the “secondERM” in March 1983. The empirical model investigates the determination of money, income, prices, and interest rates in Germany, Denmark, and Italy based on the cointegratedVAR model. It provides empirical results on the macroeconomic effects of joining theERM and financial deregulation.

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Authors and Affiliations

  1. Institute of Economics, University of Copenhagen, DK-1169, Copenhagen, Denmark

    Katarina Juselius

  2. Economics Department, European University Institute, Via die Roccettini 9, I-50016, San Domenico, Italy

    Katarina Juselius

Authors
  1. Katarina Juselius
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Juselius, K. Changing monetary transmission mechanisms within the EU. Empirical Economics 23, 455–481 (1998). https://doi.org/10.1007/BF01294418

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  • DOI: https://doi.org/10.1007/BF01294418

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