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dc.contributor.authorLUETKEPOHL, Helmut
dc.contributor.authorWOLTERS, Jürgen
dc.date.accessioned2005-01-06T11:10:10Z
dc.date.available2005-01-06T11:10:10Z
dc.date.created2003
dc.date.issued2003
dc.identifier.citationMacroeconomic Dynamics, 2003, 7, 5, 711-733
dc.identifier.urihttp://hdl.handle.net/1814/2116
dc.description.abstractA small macroeconomic model is constructed to study the transmission of the monetary policy conducted by the Deutsche Bundesbank (DBB) since the middle of the 1970s. For this purpose, quarterly, seasonally unadjusted data for the period from 1975 to 1998 are used; that is, the period until the introduction of the Euro is considered. A vector error correction model is constructed for the German monetary sector based on M3, GNP, an inflation rate, a long-term interest rate, and a short-term rate that represents the policy variable of the DBB. Moreover, import price inflation is included as an exogenous variable to capture foreign effects. An impulse response analysis highlights the effects of changes in the short-term interest rate and shows the interaction of the main variables of the monetary sector.
dc.language.isoen
dc.relation.ispartofMacroeconomic Dynamics
dc.titleTransmission of German Monetary Policy in the Pre-Euro Perioden
dc.typeArticle
dc.identifier.doi10.1017/S1365100502020229
dc.neeo.contributorLUETKEPOHL|Helmut|aut|EUI70007
dc.neeo.contributorWOLTERS|Jurgen|aut|
dc.identifier.volume7
dc.identifier.startpage711
dc.identifier.endpage733


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