Skip to main content

The transmission of monetary policy and technology shocks in the euro area

Buy Article:

$51.63 plus tax (Refund Policy)

Abstract:

This article analyses the response of a set of euro area macroeconomic variables to monetary policy and technology shocks based on structural Vector Auto-regressions (VARs). The data set runs from 1970:1 until 2006:4 and includes a novel long-run series for hours worked per capita in the euro area. We find that real macroeconomic variables follow a hump-shaped response after monetary policy shocks and jump on impact after technology shocks. We also provide evidence that hours worked fall after a positive technology shock. These conclusions are robust to different sample periods and specifications of the variables.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036840802600186

Affiliations: Banco de Portugal, Rua Almirante Reis No. 71, 1150-012 Lisbon, Portugal

Publication date: March 1, 2011

More about this publication?
routledg/raef/2011/00000043/00000008/art00002
dcterms_title,dcterms_description,pub_keyword
6
5
20
40
5

Access Key

Free Content
Free content
New Content
New content
Open Access Content
Open access content
Subscribed Content
Subscribed content
Free Trial Content
Free trial content
Cookie Policy
X
Cookie Policy
ingentaconnect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more