ECB paper on transmission of monetary policy

This ECB Working Paper examines possible explanations for observed differences in the transmission of euro area monetary policy in central bank large-scale macroeconomic models. It finds that, against most yardsticks, the cross-country variations in the results are found to be plausible in the sense that they correspond with other evidence or observed characteristics of the economies in question.

Click here to read the Working Paper "Cross-country differences in monetary policy transmission" on

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