Monetary policy shocks and transmission in Italy: A VAR analysis

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• dc.contributor.author De Arcangelis, Giuseppeca
• dc.contributor.author Di Giorgio, Giorgioca
• dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
• dc.date.accessioned 2017-07-26T10:50:50Z
• dc.date.available 2017-07-26T10:50:50Z
• dc.date.issued 1999-12-01
• dc.date.modified 2017-07-23T02:05:07Z
• 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.format.mimetype application/pdfca
• dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=446
• 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.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.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
• dc.subject.keyword monetary policy shocks and indicators
• dc.subject.keyword structural var
• dc.subject.keyword Macroeconomics and International Economics
• dc.title Monetary policy shocks and transmission in Italy: A VAR analysisca
• dc.type info:eu-repo/semantics/workingPaper