A VAR Analysis of Monetary Transmission Mechanism in the European UnionReport as inadecuate




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Zagreb International Review of Economics & Business, Vol.7 No.2 November 2004. -

The paper studies the functioning of the monetary transmission mechanism in the EU. It analyses the influence of an increase in short-term interest rate on real and monetary variable e.g. industrial production of the EU members, retail prices, monetary mass and real exchange rate. Frequently used econometric technique of VAR has been used to analyse the monetary transmission mechanism.

monetary transmission mechanism; interest rate; VAR; decomposition of variance; impulse response



Author: Ivan Lovrinović - ; Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia Manuel Benazić - ; Istarska kredit

Source: http://hrcak.srce.hr/



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