Differences in the Monetary Policy Transmission Mechanism within the European Monetary Union Germany and Italy is popular PDF and ePub book, written by Wilhelm Fohr in 2007-01-07, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Differences in the Monetary Policy Transmission Mechanism within the European Monetary Union Germany and Italy can be Read Online from any device for your convenience.
Differences in the Monetary Policy Transmission Mechanism within the European Monetary Union Germany and Italy Book PDF Summary
Master's Thesis from the year 2005 in the subject Economics - Monetary theory and policy, grade: 1,3, Berlin School of Economics, language: English, abstract: The European Central Bank1is in charge to conduct monetary policy for a growing number of nations, participating in the European Monetary Union. This joint enterprise is still young, but followed decades of increasing cooperation and integration after the Second World War. However, the question remains how suitable a shared monetary policy is for a number of different economies. Today, most central banks put emphasis on price stability as medium-term goal, for this is the best way to stabilise expectations and to promote sustainable growth. A precondition for the successful conduct of monetary policy is that monetary impulses are transmitted throughout the whole currency area in a symmetric way. Therefore, central banks need to assess the timing and magnitude how interest rate movements affect the economy and through which channels this mechanism works. This allows the central bank to use their policy instruments at the right time and with the right intensity. Information about the characteristics of the monetary transmission process in EMU-countries, especially about national differences, has important lessons for the effective conduct of monetary policy. Consequently, asymmetric monetary transmission would be able to weaken the position of the European Central Bank and has a negative impact on the economy. This paper deals with the question of asymmetric transmission in the Euro-area. It involves information about the characteristics of transmission channels in EMU countries, the different stages of transmission where asymmetry or convergence might occur and the perspectives for the future development of the European transmission mechanisms. The objective is to find out about asymmetries in monetary policy transmission and their consequences. This paper answers the question if there are major drawbacks for participating economies possible or if the Euro will catalyse European integration without negative side effects.
Detail Book of Differences in the Monetary Policy Transmission Mechanism within the European Monetary Union Germany and Italy PDF
- Author : Wilhelm Fohr
- Release : 07 January 2007
- Publisher : GRIN Verlag
- ISBN : 9783638584524
- Genre : Business & Economics
- Total Page : 75 pages
- Language : English
- PDF File Size : 9,5 Mb
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