Download this Paper Open PDF in Browser

Monetary Policy in EMU when the Transmission is Assymmetric and Uncertain

22 Pages Posted: 15 Apr 2003  

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

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 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: https://ssrn.com/abstract=386781

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

Paper statistics

Downloads
142
Rank
173,578
Abstract Views
837