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Monetary Policy in EMU when the Transmission is Assymmetric and Uncertain


Paul De Grauwe


London School of Economics & Political Science (LSE); CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Centre for Economic Policy Research (CEPR)

Marc-Alexandre Senegas


University of Bordeaux - GRAPE
March 2003

CESifo Working Paper Series No. 891

Abstract:     
In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data. We find that the uncertainty about the transmission process increases the need to take into account information about national economies in the formulation of optimal monetary policies in a monetary union.

Number of Pages in PDF File: 22

JEL Classification: E52, E58, F33

working papers series


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Date posted: April 15, 2003  

Suggested Citation

De Grauwe, Paul and Senegas, Marc-Alexandre, Monetary Policy in EMU when the Transmission is Assymmetric and Uncertain (March 2003). CESifo Working Paper Series No. 891. Available at SSRN: http://ssrn.com/abstract=386781

Contact Information

Paul De Grauwe (Contact Author)
London School of Economics & Political Science (LSE) ( email )
Houghton Street
London, WC2A 2AE
United Kingdom
CESifo (Center for Economic Studies and Ifo Institute for Economic Research)
Poschinger Str. 5
Munich, DE-81679
Germany
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
Marc-Alexandre Senegas
University of Bordeaux - GRAPE ( email )
Avenue Leon Duguit
33608 Pessac Cedex, 33608
France
Feedback to SSRN (Beta)


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