메뉴 건너뛰기




Volumn 23, Issue , 2008, Pages 77-125

How has the euro changed the monetary transmission mechanism?

Author keywords

[No Author keywords available]

Indexed keywords


EID: 77649086457     PISSN: 08893365     EISSN: None     Source Type: Book Series    
DOI: 10.1086/593083     Document Type: Article
Times cited : (47)

References (77)
  • 5
    • 0037277111 scopus 로고    scopus 로고
    • Inferential theory for factor models of large dimensions
    • Bai, Jushan. 2003. "Inferential Theory for Factor Models of Large Dimensions." Econometrica 71, no.1:135-172
    • (2003) Econometrica , vol.71 , Issue.1 , pp. 135-172
    • Jushan, B.1
  • 6
    • 33745304373 scopus 로고    scopus 로고
    • Confidence intervals for diffusion index forecasts and inference for factor-augmented regressions
    • Bai, Jushan, and Serena Ng. 2006. "Confidence Intervals for Diffusion Index Forecasts and Inference for Factor-Augmented Regressions." Econometrica 74, no.4:1133-1150
    • (2006) Econometrica , vol.74 , Issue.4 , pp. 1133-1150
    • Jushan, B.1    Ng, S.2
  • 8
    • 0001075009 scopus 로고
    • On biases in the measurement of foreign exchange risk premiums
    • Bekaert, Geert, and Robert J. Hodrick. 1993. "On Biases in the Measurement of Foreign Exchange Risk Premiums." Journal of International Money and Finance 12, no.2:115-138
    • (1993) Journal of International Money and Finance , vol.12 , Issue.2 , pp. 115-138
    • Bekaert, G.1    Hodrick, R.J.2
  • 9
    • 34447564116 scopus 로고    scopus 로고
    • Uncovered interest rate parity and the term structure
    • Bekaert, Geert, Min Wei, and Yuhang Xing. 2007. "Uncovered Interest Rate Parity and the Term Structure." Journal of International Money and Finance 26, no.6:1038-1069
    • (2007) Journal of International Money and Finance , vol.26 , Issue.6 , pp. 1038-1069
    • Bekaert1    Geert2    Wei, M.3    Xing, Y.4
  • 13
    • 15544377383 scopus 로고    scopus 로고
    • Measuring monetary policy: A factor augmented vector autoregressive (FAVAR) approach
    • Bernanke, Ben S., Jean Boivin, and Piotr Eliasz. 2005. "Measuring Monetary Policy: A Factor Augmented Vector Autoregressive (FAVAR) Approach." Quarterly Journal of Economics 120, no.1:387-422.
    • (2005) Quarterly Journal of Economics , vol.120 , Issue.1 , pp. 387-422
    • Bernanke, B.S.1    Boivin, J.2    Eliasz, P.3
  • 15
    • 33749670888 scopus 로고    scopus 로고
    • Has monetary policy become more effective?
    • -. 2006b. "Has Monetary Policy Become More Effective?" Review of Economics and Statistics 88, no.3:445-462
    • (2006) Review of Economics and Statistics , vol.88 , Issue.3 , pp. 445-462
  • 16
    • 77956438637 scopus 로고    scopus 로고
    • Global forces and monetary policy effectiveness
    • Forthcoming, ed. Jordi Galí and Mark Gertler. Chicago: University of Chicago Press
    • -. Forthcoming. "Global Forces and Monetary Policy Effectiveness." In International Dimensions of Monetary Policy, ed. Jordi Galí and Mark Gertler. Chicago: University of Chicago Press.
    • International Dimensions of Monetary Policy
  • 17
    • 70149119009 scopus 로고    scopus 로고
    • Sticky prices and monetary policy: Evidence from disaggregated U.S. data
    • Forthcoming
    • Boivin, Jean, Marc P. Giannoni, and Ilian Mihov. Forthcoming. "Sticky Prices and Monetary Policy: Evidence from Disaggregated U.S. Data." American Economic Review.
    • American Economic Review
    • Boivin, J.1    Giannoni, M.P.2    Mihov, I.3
  • 19
    • 34250724216 scopus 로고    scopus 로고
    • Understanding and comparing factor based forecasts
    • Boivin, Jean, and Serena Ng. 2005. "Understanding and Comparing Factor Based Forecasts." International Journal of Central Banking 1, no.3:117-151
    • (2005) International Journal of Central Banking , vol.1 , Issue.3 , pp. 117-151
    • Boivin, J.1    Serena, N.2
  • 21
  • 23
    • 15844392342 scopus 로고    scopus 로고
    • Nominal rigidities and the dynamic effect of a shock to monetary policy
    • Christiano, Lawrence J., Martin Eichenbaum, and Charles Evans. 2005. "Nominal Rigidities and the Dynamic Effect of a Shock to Monetary Policy." Journal of Political Economy 113, no.1:1-45.
    • (2005) Journal of Political Economy , vol.113 , Issue.1 , pp. 1-45
    • Christiano, L.J.1    Eichenbaum, M.2    Evans, C.3
  • 25
    • 33645132471 scopus 로고    scopus 로고
    • Has the transmission mechanism of european monetary policy changed in the run-up to EMU?
    • Ciccarelli, Matteo, and Allessandro Rebucci. 2006. "Has the Transmission Mechanism of European Monetary Policy Changed in the Run-up to EMU?" European Economic Review 50, no.3:737-776
    • (2006) European Economic Review , vol.50 , Issue.3 , pp. 737-776
    • Matteo, C.1    Rebucci, A.2
  • 26
    • 0031670190 scopus 로고    scopus 로고
    • Monetary policy rules in practice: Some international evidence
    • Clarida, Richard, Jordi Galí, and Mark Gertler. 1998. "Monetary Policy Rules in Practice: Some International Evidence." European Economic Review 42, no.5:1033-1067
    • (1998) European Economic Review , vol.42 , Issue.5 , pp. 1033-1067
    • Richard, C.1    Galí, J.2    Gertler, M.3
  • 27
    • 0036339136 scopus 로고    scopus 로고
    • A simple framework for international monetary policy analysis
    • -. 2002. "A Simple Framework for International Monetary Policy Analysis." Journal of Monetary Economics 49, no.5:879-904.
    • (2002) Journal of Monetary Economics , vol.49 , Issue.5 , pp. 879-904
  • 28
    • 48949120103 scopus 로고    scopus 로고
    • Tax reform and labour-market performance in the euro area: A simulation-based analysis using the new area-wide model
    • Coenen, Günter, Peter McAdam, and Roland Straub. 2008. "Tax Reform and Labour-Market Performance in the Euro Area: A Simulation-Based Analysis Using the New Area-Wide Model." Journal of Economic Dynamics and Control 32, no.8:2543-2583
    • (2008) Journal of Economic Dynamics and Control , vol.32 , Issue.8 , pp. 2543-2583
    • Günter, C.1    McAdam, P.2    Straub, R.3
  • 29
    • 15844367076 scopus 로고    scopus 로고
    • A macroeconomic model of international price discrimination
    • Corsetti, Giancarlo, and Luca Dedola. 2005. "A Macroeconomic Model of International Price Discrimination." Journal of International Economics 67:129-155
    • (2005) Journal of International Economics , vol.67 , pp. 129-155
    • Giancarlo, C.1    Dedola, L.2
  • 30
    • 15844370501 scopus 로고    scopus 로고
    • International dimensions of optimal monetary policy
    • Corsetti, Giancarlo, and Paolo Pesenti. 2005. "International Dimensions of Optimal Monetary Policy." Journal of Monetary Economics 52, no.2:281-305.
    • (2005) Journal of Monetary Economics , vol.52 , Issue.2 , pp. 281-305
    • Giancarlo, C.1    Pesenti, P.2
  • 31
    • 0036340669 scopus 로고    scopus 로고
    • Exchange rate pass-through, exchangerate volatility, and exchange rate disconnect
    • Devereux, Michael B., and Charles Engel. 2002. "Exchange Rate Pass-Through, ExchangeRate Volatility, and Exchange Rate Disconnect." Journal of Monetary Economics 49, no.5:913-940
    • (2002) Journal of Monetary Economics , vol.49 , Issue.5 , pp. 913-940
    • Devereux, M.B.1    Engel, C.2
  • 34
    • 84959805338 scopus 로고
    • Some empirical evidence on the effects of shocks to monetary policy on exchange rates
    • Eichenbaum, Martin, and Charles L. Evans. 1995. "Some Empirical Evidence on the Effects of Shocks to Monetary Policy on Exchange Rates." Quarterly Journal of Economics 110, no.4:975-1009.
    • (1995) Quarterly Journal of Economics , vol.110 , Issue.4 , pp. 975-1009
    • Martin, E.1    Evans, C.L.2
  • 36
    • 33750615058 scopus 로고    scopus 로고
    • How Synchronized Are New EU Member States with the Euro Area? Evidence from a structural factor model
    • Eickmeier, Sandra, and Jörg Breitung. 2006. "How Synchronized Are New EU Member States with the Euro Area? Evidence from a Structural Factor Model." Journal of Comparative Economics 34:538-563
    • (2006) Journal of Comparative Economics , vol.34 , pp. 538-563
    • Sandra, E.1    Breitung, J.2
  • 37
    • 0030163502 scopus 로고    scopus 로고
    • The forward discount anomaly and the risk premium: A survey of recent evidence
    • Engel, Charles. 1996. "The Forward Discount Anomaly and the Risk Premium: A Survey of Recent Evidence." Journal of Empirical Finance 3, no.2:123-92.
    • (1996) Journal of Empirical Finance , vol.3 , Issue.2 , pp. 123-192
    • Charles, E.1
  • 38
    • 12144284568 scopus 로고    scopus 로고
    • An area-wide model (AWM) for the Euro area
    • Fagan, Gabriel, Járôme Henry, and Ricardo Mestre. 2005. "An Area-Wide Model (AWM) for the Euro Area." Economic Modelling 22, no.1:39-59.
    • (2005) Economic Modelling , vol.22 , Issue.1 , pp. 39-59
    • Gabriel, F.1    Henry, J.2    Mestre, R.3
  • 39
    • 85087962255 scopus 로고    scopus 로고
    • Fagan, Gabriel, and Julian Morgan, eds, Cheltenham, UK: Elgar
    • Fagan, Gabriel, and Julian Morgan, eds. 2006. Econometric Models of the EuroArea Central Banks. Cheltenham, UK: Elgar.
    • (2006) Econometric Models of the Euro Area Central Banks
  • 40
    • 34548241045 scopus 로고    scopus 로고
    • Smooth landing or crash? Model-based scenarios of global current account rebalancing
    • ed. Richard H. Clarida, Chicago: University of Chicago Press
    • Faruquee, Hamid, Douglas Laxton, Dirk Muir, and Paolo A. Pesenti. 2007. "Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing." In G7 Current Account Imbalances, ed. Richard H. Clarida, 377-451. Chicago: University of Chicago Press.
    • (2007) G7 Current Account Imbalances , pp. 377-451
    • Hamid, F.1    Laxton, D.2    Muir, D.3    Pesenti, P.A.4
  • 41
    • 23844558620 scopus 로고    scopus 로고
    • Principal components at work: The empirical analysis of monetary policy with large datasets
    • Favero, Carlo, Massimiliano Marcellino, and Francesca Neglia. 2005. "Principal Components at Work: The Empirical Analysis of Monetary Policy with Large Datasets." Journal of Applied Econometrics 20:603-620
    • (2005) Journal of Applied Econometrics , vol.20 , pp. 603-620
    • Carlo, F.1    Marcellino, M.2    Neglia, F.3
  • 43
    • 77955163383 scopus 로고    scopus 로고
    • Current account dynamics and monetary policy
    • Forthcoming, ed. Jordi Galí and Mark Gertler. Chicago: University of Chicago Press
    • Ferrero, Andrea, Mark Gertler, and Lars E. O. Svensson. Forthcoming. "Current Account Dynamics and Monetary Policy." In International Dimensions of Monetary Policy, ed. Jordi Galí and Mark Gertler. Chicago: University of Chicago Press.
    • International Dimensions of Monetary Policy
    • Andrea, F.1    Gertler, M.2    Svensson, L.E.O.3
  • 44
    • 0034364595 scopus 로고    scopus 로고
    • The generalized dynamic factor model: Identification and estimation
    • Forni, Mario, Marc Hallin, Marco Lippi, and Lucrezia Reichlin. 2000. "The Generalized Dynamic Factor Model: Identification and Estimation." Review of Economics and Statistics 82, no.4:540-554
    • (2000) Review of Economics and Statistics , vol.82 , Issue.4 , pp. 540-554
    • Mario, F.1    Hallin, M.2    Lippi, M.3    Reichlin, L.4
  • 49
    • 0032275731 scopus 로고    scopus 로고
    • Small-sample confidence intervals for impulse response functions
    • Kilian, Lutz. 1998. "Small-Sample Confidence Intervals for Impulse Response Functions." Review of Economics and Statistics 80, no.2:218-230
    • (1998) Review of Economics and Statistics , vol.80 , Issue.2 , pp. 218-230
    • Lutz, K.1
  • 51
    • 0036340855 scopus 로고    scopus 로고
    • Monetary policy rules in the open economy: Effects on welfare and business cycles
    • Kollmann, Robert. 2002. "Monetary Policy Rules in the Open Economy: Effects on Welfare and Business Cycles." Journal of Monetary Economics 49, no.5:989-1015.
    • (2002) Journal of Monetary Economics , vol.49 , Issue.5 , pp. 989-1015
    • Robert, K.1
  • 52
    • 3042673957 scopus 로고    scopus 로고
    • International business cycles: World, region, and country specific factors
    • Kose, M. Ayhan, Christopher Otrok, and Charles H. Whiteman. 2003. "International Business Cycles: World, Region, and Country Specific Factors." American Economic Review 93, no.4:1216-1239
    • (2003) American Economic Review , vol.93 , Issue.4 , pp. 1216-1239
    • Ayhan, K.M.1    Otrok, C.2    Whiteman, C.H.3
  • 53
    • 0001538138 scopus 로고    scopus 로고
    • Rethinking deviations from uncovered interest parity: The role of covariance risk and noise
    • Mark, Nelson C., and Yangru Wu. 1998. "Rethinking Deviations from Uncovered Interest Parity: The Role of Covariance Risk and Noise." Economic Journal 108, no.451:1686-1706.
    • (1998) Economic Journal , vol.108 , Issue.451 , pp. 1686-1706
    • Mark Nelson, C.1    Wu, Y.2
  • 55
    • 0034451233 scopus 로고    scopus 로고
    • Monetary policy for an open economy: An alternative framework with optimizing agents and sticky prices
    • McCallum, Bennett, and Edward Nelson. 2000. "Monetary Policy for an Open Economy: An Alternative Framework with Optimizing Agents and Sticky Prices." Oxford Review of Economic Policy 16:74-91.
    • (2000) Oxford Review of Economic Policy , vol.16 , pp. 74-91
    • Bennett, M.1    Nelson, E.2
  • 56
    • 0034788927 scopus 로고    scopus 로고
    • Monetary policy implementation and transmission in the European monetary union
    • Mihov, Ilian. 2001. "Monetary Policy Implementation and Transmission in the European Monetary Union." Economic Policy 16, no.33:369-406.
    • (2001) Economic Policy , vol.16 , Issue.33 , pp. 369-406
    • Ilian, M.1
  • 58
    • 18344377752 scopus 로고    scopus 로고
    • Monetary policy in a low pass-through environment
    • Monacelli, Tommaso. 2005. "Monetary Policy in a Low Pass-Through Environment." Journal of Money, Credit, and Banking 37, no.6:1047-1066
    • (2005) Journal of Money, Credit, and Banking , vol.37 , Issue.6 , pp. 1047-1066
    • Tommaso, M.1
  • 59
    • 0036589436 scopus 로고    scopus 로고
    • Global implications of self oriented national monetary rules
    • Obstfeld, Maurice, and Kenneth S. Rogoff. 2002. "Global Implications of SelfOriented National Monetary Rules." Quarterly Journal of Economics 117:503-536
    • (2002) Quarterly Journal of Economics , vol.117 , pp. 503-536
    • Maurice, O.1    Rogoff, K.S.2
  • 60
    • 21744442335 scopus 로고    scopus 로고
    • The unsustainable US current account position revisited
    • ed Richard H. Clarida. Chicago: University of Chicago Press
    • -. 2005. "The Unsustainable US Current Account Position Revisited." In G7 Current Account Imbalances, ed Richard H. Clarida. Chicago: University of Chicago Press.
    • (2005) G7 Current Account Imbalances
  • 62
    • 35649021207 scopus 로고    scopus 로고
    • Expectations hypotheses tests at long horizons
    • Rossi, Barbara. 2007. "Expectations Hypotheses Tests at Long Horizons." Econometrics Journal 10:554-579
    • (2007) Econometrics Journal , vol.10 , pp. 554-579
    • Barbara, R.1
  • 63
    • 0345982186 scopus 로고    scopus 로고
    • An optimization-based econometric framework for the evaluation of monetary policy
    • Rotemberg, Julio J., and Michael Woodford. 1997. "An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy." NBER Macroeconomics Annual 1997:297-346.
    • (1997) NBER Macroeconomics Annual , vol.1997 , pp. 297-346
    • Rotemberg Julio, J.1    Woodford, M.2
  • 66
    • 48849102886 scopus 로고    scopus 로고
    • New evidence on the puzzles: Results from agnostic identification on monetary policy and exchange rates
    • Scholl, Almuth, and Harald Uhlig. 2008. "New Evidence on the Puzzles: Results from Agnostic Identification on Monetary Policy and Exchange Rates." Journal of International Economics 76, no.1:1-13.
    • (2008) Journal of International Economics , vol.76 , Issue.1 , pp. 1-13
    • Almuth, S.1    Uhlig, H.2
  • 68
    • 33646382409 scopus 로고    scopus 로고
    • Does monetary policy generate recessions?
    • Sims, Christopher A., and Tao Zha. 2006. "Does Monetary Policy Generate Recessions?" Macroeconomic Dynamics 10, no.2:231-272
    • (2006) Macroeconomic Dynamics , vol.10 , Issue.2 , pp. 231-272
    • Sims Christopher, A.1    Zha, T.2
  • 69
    • 0036337894 scopus 로고    scopus 로고
    • Openness, imperfect exchange rate pass-through and monetary policy
    • Smets, Frank, and Raf Wouters. 2002. "Openness, Imperfect Exchange Rate Pass-Through and Monetary Policy." Journal of Monetary Economics 49, no.5:947-981
    • (2002) Journal of Monetary Economics , vol.49 , Issue.5 , pp. 947-981
    • Frank, S.1    Wouters, R.2
  • 70
    • 2442554832 scopus 로고    scopus 로고
    • An estimated stochastic DSGE model of the Euro area
    • -. 2003. "An Estimated Stochastic DSGE Model of the Euro Area." Journal of the European Economic Association 1, no.5:1123-1175
    • (2003) Journal of the European Economic Association , vol.1 , Issue.5 , pp. 1123-1175
  • 72
    • 0036005160 scopus 로고    scopus 로고
    • Macroeconomic forecasting using diffusion indexes
    • - 2002. "Macroeconomic Forecasting Using Diffusion Indexes." Journal of Business and Economic Statistics 20, no.2:147-162
    • (2002) Journal of Business and Economic Statistics , vol.20 , Issue.2 , pp. 147-162
  • 73
    • 77957223868 scopus 로고    scopus 로고
    • Understanding changes in international business cycle dynamics
    • - 2005. "Understanding Changes in International Business Cycle Dynamics." Journal of the European Economic Association 3, no.5:968-1006.
    • (2005) Journal of the European Economic Association , vol.3 , Issue.5 , pp. 968-1006
  • 74
    • 0000483080 scopus 로고
    • Time preference, the consumption function and optimum asset holdings
    • ed. James Wolfe. Edinburgh: University of Edinburgh Press
    • Uzawa, Hirofumi. 1968. "Time Preference, the Consumption Function and Optimum Asset Holdings." In Value, Capital and Growth: Papers in Honor of Sir John Hicks, ed. James Wolfe. Edinburgh: University of Edinburgh Press.
    • (1968) Value, Capital and Growth: Papers in Honor of Sir John Hicks
    • Hirofumi, U.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.