In Search of Monetary Policy Measures: the Case of Italy in the 90s

De Arcangelis, Giuseppe and Di Giorgio, Giorgio (1998) In Search of Monetary Policy Measures: the Case of Italy in the 90s. [Working Paper]. Social Science Research Network Pub. p. 40. SSRN Working Paper Series

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In this paper we present a structural VAR analysis of monetary policy in Italy. A monetary policy operating regime based on the control of the overnight rate seems to fit the data better than alternative quantitative monetary regimes. The model allows us to derive an overall indicator of the monetary policy stance that is able to highlight the major episodes of monetary contraction in the sample.

Item Type:Report / Paper (Working Paper)
Research documents and activity classification:Working Papers > Non-Refereed Working Papers / of national relevance only
Divisions:Department of Business and Management
Additional Information:The latest version of this paper has been published in "Giornale degli Economisti", GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 57(2), pages 213-250, September 1998
Uncontrolled Keywords:Monetary Policy Shocks and Indicators, Structural VAR
MIUR Scientific Area:Area 13 - Economics and Statistics > SECS-P/01 Political Economy
Deposited By:Maria Teresa Nistico
Deposited On:23 Nov 2010 09:50
Last Modified:27 Nov 2010 10:11

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