Dornbusch, R., Favero, C.A. and F. Giavazzi, 1998, A red letter day?, CEPR Discussion Paper 1804, February 1998.  Home/Search Document Not in Database Summary Related Articles Check |
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Asymmetric Adjustment of Commercial Bank Interest Rates in.. - Sander, Kleimeier (2000) (Correct)
....from METEOR. All comments are welcome. Please contact: Prof. Dr. Harald Sander University of Applied Sciences Cologne Claudiusstr. 1 50678 Kln Germany Phone: 49 208 853691 Fax: 49 221 8275 3131 e mail: gh.sander t online.de 1 Shooting at a moving target in the fog is no easy task. Dornbusch, Favero and Giavazzi (1998) The markets are asymmetric; we are not. Alan Greenspan (1999) 1. Introduction Since January 1, 1999 the new European Central Bank has to conduct a one size fits all monetary policy based on her assessment of the average economic conditions of the 11 member countries of the European Monetary ....
....study concentrates on the financial market reaction. There are a number of good reasons to do so: First, while there is evidence that the wage price process is different across Europe, the Lucas principle suggests that this very process may adopt to the European focus of the ECB s monetary policy (Dornbusch et.al. 1998). Financial markets, however, may be more resistant to convergence. e.g. Cecchetti (1999. p. 22) argues that . differences in financial structure are the proximate cause for these national asymmetries in the monetary policy transmission mechanism , and adds that . unless legal structures are ....
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Dornbusch, R., Favero, C.A. and F. Giavazzi, 1998, A red letter day?, CEPR Discussion Paper 1804, February 1998.
Local responses to a global monetary policy: The regional.. - de Lucio, Izquierdo (1999) (Correct)
....is endogenous, in the sense that it moves to accommodate macroeconomic unbalances, and monetary policy shocks explain less than 20 of output variations (Bernanke Gertler and Watson, 1997) it seems that these shocks have significant and persistent real effects that differ across countries. Dornbusch, Favero and Giavazzi (1997) use another kind of ad hoc models. They prefer central banks reaction functions in order to address statistical differences among six countries, when measuring the effect of monetary policy on output. They find significant asymmetries across European countries. However, the ....
Dornbusch, Favero and Giavazzi (1998) "A Red letter Day" Paper presented at Asset Prices and Monetary Policy Conference, Basel 1998.
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