scholarly journals Cross-Country Asymmetries in Euro Area Monetary Transmission: The Role of National Financial Systems

2003 ◽  
Author(s):  
Hanna Putkuri
Keyword(s):  
Euro Area ◽  
Monetary Transmission ◽  
Financial Systems ◽  
Cross Country

scholarly journals Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area

2001 ◽  
Author(s):  
Michael Ehrmann ◽  
Leonardo Gambacorta ◽  
Jorge Martínez Pagés ◽  
Patrick Sevestre ◽  
Andreas Worms
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
Monetary Policy Transmission ◽  
Financial Systems ◽  
Policy Transmission

scholarly journals Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area

2002 ◽  
Author(s):  
Michael Ehrmann ◽  
Leonardo Gambacorta ◽  
Patrick Sevestre ◽  
Andreas Worms ◽  
Jorge Martinez
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
Monetary Policy Transmission ◽  
Financial Systems ◽  
Policy Transmission

scholarly journals The Slope of the Euro Area Phillips Curve: Always and Everywhere the Same?

2017 ◽  
Vol 4 (3) ◽  
pp. 77
Author(s):  
Johanna Amberger ◽  
Ralf Fendel
Keyword(s):  
Euro Area ◽  
Phillips Curve ◽  
Space Form ◽  
Strong Dependence ◽  
New Keynesian ◽  
Inflation Expectations ◽  
Cross Country ◽  
The Business Cycle ◽  
Output Gaps

To determine whether the sensitivity of inflation to changes in the business cycle varies over time, hybrid new Keynesian Phillips curves are formulated in state space form and estimated via the Kalman filter. Analyses cover the Euro Area aggregate and eleven Euro Area countries. Results confirm the increasingly important role of inflation expectations. While the Phillips curve flattens until 2007, slope coefficients increase considerably with the financial crisis in 2007/08 on the basis of output gaps. Nonetheless, stable or decreasing slope coefficients are observed on the basis of unemployment gaps, indicating strong dependence on the driving variable used in estimations. Overall, differences in cross-country Phillips curve parameters are decreasing, indicating a convergence of Euro Area countries' inflation dynamics since 1990.

scholarly journals Financial Systems and the Role of Banks in Monetary Policy Transmission in the Euro Area

2001 ◽  
Author(s):  
Michael Ehrmann ◽  
Leonardo Gambacorta ◽  
Jorge Martínez Pagés ◽  
Patrick Sevestre ◽  
Andreas Worms
Keyword(s):  
Monetary Policy ◽  
Euro Area ◽  
Monetary Policy Transmission ◽  
Financial Systems ◽  
Policy Transmission
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