Description - Monetary Policy Transmission in the Euro Area by Ignazio Angeloni
Proper conduct of monetary policy requires understanding the monetary transmission mechanism, to monitor the economy, make decisions on the stance of policy, and explain the policy actions to the public. Hence, gathering evidence on the monetary transmission mechanism in the euro area has been a priority for the Eurosystem. This 2003 book presents the results of a multi-year collaborative project conducted by the European Central Bank and the other Eurosystem central banks. First, macro data are consistently investigated with both VARs and structural models for the area as a whole and for individual countries. Second, the book contains an unprecedented set of studies on the effects of monetary policy using bank and firm panel data. The results described in country case studies and overview essays by central bank economists, along with a discussion chapter by eminent academics, provide an essential contribution to research on the subject.
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(228mm x 152mm x 33mm)
Cambridge University Press
Publisher: Cambridge University Press
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Author Biography - Ignazio Angeloni
Ignazio Angeloni is Deputy Director General for Research at the European Central Bank. He is the co-author of Monetary Policy in the Euro Area; Strategy and Decision Making at the European Central Bank (with Vitor Gaspar, Otmar Issing and Oreste Tristani: CUP, 2001). Anil Kashyap is Professor of Economics at the University of Chicago's School of Business. He is the co-author of Corporate Financing and Governance in Japan: The Road to the Future (with Takeo Hoshi, 2001). Benoit Mojon is Senior Economist at the General Economic Research Division of the European Central Bank.