Asymmetries in Monetary Policy Transmission
Some Implications for EMU and its Enlargement
Bibliographic Data
| ID | 6280574 |
|---|---|
| Authors | Paul De Grauwe (0000-0003-0229-1641, Ifo Institute for Economic Research), Marc‐alexandre Sénégas, Marc-Alexandre Sénégas (0000-0003-4005-1948, Université de Bordeaux) |
| Year | 2004 |
| Volume | 42 |
| Issue | 4 |
| Pages | 757-773 |
| Publication date | 2004-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | JCMS Journal of Common Market Studies (JOURNAL) |
| Journal identifiers | ISSN: 0021-9886 • E-ISSN: 1468-5965 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.0021-9886.2004.00528.x |
| OpenAlex | W2027099329 |
| Language | EN |
| Citations received | 5 |
| References cited | 6 |
In this article we analyse how the enlargement of a monetary union may affect the design of the common monetary policy when the latter transmits asymmetrically between the member countries. We find that the use of national information about inflation and unemployment in the design of the common monetary policy allows for tackling the heterogeneity induced by this asymmetry. This implies that if enlargement contributes to augmenting the transmission asymmetry of monetary policy in EMU, it will raise the need to take into account information about national economies in the formulation of optimal monetary policies in the monetary union. Furthermore, the choice for a new EU Member State to enter EMU will also depend on the monetary strategy implemented by the European Central Bank and, in particular, whether the latter would take the asymmetries in the transmission of monetary policy actions into account
Economics · European union · International economics · Monetary economics · Monetary policy · Resizing · Telecommunications · Transmission (telecommunications · Computer Science · Fiscal Policies and Political Economy · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
Deepening Integration in an Enlarged EU
Monetary Policy in Emu With Asymmetric Transmission and Non‐tradable Goods
Élargissement de la zone euro et mesure des asymétries
Welfare‐theoretic Optimal Policies in a New‐Keynesian Economy with Heterogeneous Regions
The Greatest of the Small? The Netherlands, the New Hanseatic League and the Frugal Four
| Unique citing works | 5 |
|---|---|
| Citations per year | 0.24 |
| Citation span | 2005 - 2022 (18) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 5 |