Monetary Policy in Emu When the Transmission is Assymmetric and Uncertain

22 Pages Posted: 15 Apr 2003

See all articles by Paul De Grauwe

Paul De Grauwe

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

Marc-Alexandre Senegas

University of Bordeaux - GRAPE

Date Written: March 2003

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.

JEL Classification: E52, E58, F33

Suggested Citation

De Grauwe, Paul and De Grauwe, Paul and Senegas, Marc-Alexandre, Monetary Policy in Emu When the Transmission is Assymmetric and Uncertain (March 2003). Available at SSRN: https://ssrn.com/abstract=386781 or http://dx.doi.org/10.2139/ssrn.386781

Paul De Grauwe (Contact Author)

CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Poschinger Str. 5
Munich, DE-81679
Germany

London School of Economics & Political Science (LSE) ( email )

Houghton Street
London, WC2A 2AE
United Kingdom

Centre for Economic Policy Research (CEPR)

London
United Kingdom

Marc-Alexandre Senegas

University of Bordeaux - GRAPE ( email )

Avenue Leon Duguit
33608 Pessac Cedex, 33608
France

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