Four largest eurozone economies show different reactions to monetary policy, paper finds
Output, price and bond yield levels affected differently in Germany, France, Italy and Spain
The four largest national economies in the eurozone respond differently to policy rate rises, a discussion paper published by the Deutsche Bundesbank says.
In Heterogeneity in euro-area monetary policy transmission: results from a large multi-country BVAR model, Martin Mandler, Michael Scharnargl and Ute Volz construct a Bayesian vector autoregression (BVAR) model.
The authors analyse the effects of common monetary policy on Germany, France, Italy and Spain. They examine the reactions of price
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