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Please use this identifier to cite or link to this item:
http://hdl.handle.net/2108/312
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| DC Field | Value | Language |
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| contributor.author | Sousa, Joao Miguel | - |
| contributor.author | Zaghini, Andrea | - |
| date.accessioned | 2007-03-05T11:14:27Z | - |
| date.available | 2007-03-05T11:14:27Z | - |
| date.issued | 2007-02 | - |
| identifier.uri | http://papers.ssrn.com/sol3/papers.cfm?abstract_id=962490 | - |
| identifier.uri | http://hdl.handle.net/2108/312 | - |
| description.abstract | The paper constructs a global monetary aggregate, namely the sum of the key monetary
aggregates of the G5 economies (US, Euro area, Japan, UK, and Canada), and analyses its indicator properties for global output and inflation. Using a structural VAR approach we find that after a monetary policy shock output declines temporarily, with the downward effect reaching a peak within the second year, and the global monetary aggregate drops significantly. In addition, the price level rises permanently in response to a positive shock to the global liquidity aggregate. The similarity of our results with those found in country studies might supports the use of a global monetary aggregate as a summary measure of worldwide monetary trends. | en |
| format.extent | 472577 bytes | - |
| format.mimetype | application/pdf | - |
| language.iso | en | en |
| publisher | CEIS | en |
| relation.ispartofseries | CEIS Tor Vergata Research Paper; 93 | en |
| subject | monetary policy | en |
| subject | structural VAR | en |
| subject | global economy | en |
| title | Global monetary policy shocks in the G5: a SVAR approach | en |
| type | Article | en |
| subject.jel | E52; Monetary policy (targets, instruments, and effects) | en |
| subject.jel | F01; International economics. Global outlook | en |
| Appears in Collections: | Research papers
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| File |
Description |
Size | Format |
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| SSRN-id962490.pdf | | 461Kb | Adobe PDF | View/Open |
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