Monetary policy shocks and transmission in Italy: A VAR analysis

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Economic Notes, Review of Banking, Finance and Monetary Economics, Blackwell, Vol 30, 2001
http://hdl.handle.net/10230/736
To cite or link this document: http://hdl.handle.net/10230/736
dc.contributor.author De Arcangelis, Giuseppe
dc.contributor.author Di Giorgio, Giorgio
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 1999-12-01
dc.identifier.citation Economic Notes, Review of Banking, Finance and Monetary Economics, Blackwell, Vol 30, 2001
dc.identifier.uri http://hdl.handle.net/10230/736
dc.description.abstract This paper provides updated empirical evidence about the real and nominal effects of monetary policy in Italy, by using structural VAR analysis. We discuss different empirical approaches that have been used in order to identify monetary policy exogenous shocks. We argue that the data support the view that the Bank of Italy, at least in the recent past, has been targeting the rate on overnight interbank loans. Therefore, we interpret shocks to the overnight rate as purely exogenous monetary policy shocks and study how different macroeconomic variables react to such shocks.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 446
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title Monetary policy shocks and transmission in Italy: A VAR analysis
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2014-06-03T07:14:01Z
dc.subject.keyword Macroeconomics and International Economics
dc.subject.keyword monetary policy shocks and indicators
dc.subject.keyword structural var
dc.rights.accessRights info:eu-repo/semantics/openAccess


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