engleski

VAR Anaysis of Monetary Transimission Mechanism in the European Union

The paper studies the functioning of the monetary transmission mechanism in the EU. It analyses the influence of an increase in short-term interest rate on real and monetary variable e.g. industrial procustion of the EU members, retail prices, monetary mass and real exchange rate. Frequently used econometric technique of VAR has been used to analyse the monetary transmission mechanism.

monetary transmission mechanism; intrest rate; VAR; decomposition of variance; impulse response

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