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Macroeconomic Dynamics and Monetary Policy Transmission in the Eurozone. An SVAR Approach


Seminar Paper, 2024

44 Pages, Grade: 1,0


Abstract or Introduction

This paper seeks to describe and analyze the intricacies of monetary policy transmission in the Eurozone by employing a Structural Vector Autoregression (SVAR) model. In particular, this paper investigates how policy-induced shocks to the main refinancing operations (MRO) rate reverberate through key macroeconomic variables, including (real) GDP growth, inflation (measured by the HICP), unemployment, the money supply (M3), and the nominal effective exchange rate. A particular focus on exploring these dynamics is set on carefully addressing the inherent challenges of econometric modeling, including variable selection, model specification (including an overview of various identifying restrictions for the SVAR model), and checking for robustness.

Details

Title
Macroeconomic Dynamics and Monetary Policy Transmission in the Eurozone. An SVAR Approach
College
University of Münster
Grade
1,0
Author
Year
2024
Pages
44
Catalog Number
V1446675
ISBN (eBook)
9783963553660
ISBN (Book)
9783963553677
Language
English
Keywords
Macroeconomics, Monetary Policy , VAR, SVAR, Structural, Econometrics, Empirical, Eurozone, Euro Area, European Central Bank, ECB, European Union, EU, HICP, Inflation, MRO, Policy Rate, Structural Vectorautoregression, Vectorautoregression, Impulse Response, Dynamics, DSGE, Optimum Currency Area, Currency Union, Policy Transmission, Model Identification, Identifying Restrictions, Statistical Identification, Short-Run Restrictions
Quote paper
Niklas Humann (Author), 2024, Macroeconomic Dynamics and Monetary Policy Transmission in the Eurozone. An SVAR Approach, Munich, GRIN Verlag, https://www.grin.com/document/1446675

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