Endogenous Financial Structure and the Transmission of ECB Policy

Part of the ZEI Studies in European Economics and Law book series (ZEIS, volume 1)

Abstract

As a legacy of the Fast, capital and money market structures still differ considerably across EMU countries at the start of European monetary union. There is a widely held view among academics and policymakers that these differences are an important matter of concern for the ECB, as they might thwart a uniform transmission of monetary policy. Therefore, so the argument goes, the short and medium term real,md financial market responses to monetary policy innovations will differ across thc; countries of the EMU.

Keywords

Monetary Policy Capital Market Monetary Union Money Market Money Demand 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 2000

Authors and Affiliations

  1. 1.Tinbergen Institute & NIASNijenrode University; Erasmus University RotterdamThe Netherlands

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