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

40 Pages Posted: 16 Apr 1998

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

Date Written: February 1998

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 seems to fit the data better than alternative quantitative monetary regimes. The model allows us to derive an overall indicator of the monetary policy stance that is able to highlight the major episodes of monetary contraction in the sample.

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 (February 1998). Available at SSRN: https://ssrn.com/abstract=76599 or http://dx.doi.org/10.2139/ssrn.76599

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

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