In Search of Monetary Policy Measures: The Case of Italy in the 90s

Giornale degli Economisti ed Annali di Economia, Vol. 2, 1998

Posted: 13 Oct 2001

See all articles by Giuseppe De Arcangelis

Giuseppe De Arcangelis

Sapienza Università di Roma

Giorgio Di Giorgio

Luiss Guido Carli University - Department of Economics and Finance

Multiple version iconThere are 2 versions of this paper

Abstract

In this paper we present a structural VAR analysis of monetary policy in Italy. A monetary policy operating regime based on the control of the overnight rate on interbank loans seems to fit the data better than alternative quantitative monetary regimes. In the anlysis we include the real exchange rate as a possible transmission channel of monetary policy shocks. We also derive a measure of the overall monetary policy stance that is able to highlight the major episodes of monetary contraction in the sample.

Note: This is a description of the article and not the actual abstract.

Keywords: Monetary policy Shocks and Indicators, Structural VAR

JEL Classification: E52

Suggested Citation

De Arcangelis, Giuseppe and Di Giorgio, Giorgio, In Search of Monetary Policy Measures: The Case of Italy in the 90s. Giornale degli Economisti ed Annali di Economia, Vol. 2, 1998, Available at SSRN: https://ssrn.com/abstract=277236

Giuseppe De Arcangelis (Contact Author)

Sapienza Università di Roma ( email )

Dipartimento di Scienze Sociali ed Economiche
P.le Aldo Moro 5
Rome, 00185
Italy
+390649910489 (Phone)

HOME PAGE: http://https://sites.google.com/a/uniroma1.it?pli=1

Giorgio Di Giorgio

Luiss Guido Carli University - Department of Economics and Finance ( email )

Viale di Villa Massimo, 57
Rome, 00161
Italy

Here is the Coronavirus
related research on SSRN

Paper statistics

Abstract Views
468
PlumX Metrics