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- W806227071 abstract "The dissertation aims at studying macroeconomic issues, with a particular regard to monetary ones, in a framework including frictions and asymmetries, suitable to a large and heterogeneous area such as the Economic and Monetary Union. First, an empirical analysis investigates, through a structural VAR model, the nature and the impact of underlying shocks in the euro countries to assess if, after more than one decade from its implementation, the EMU may be considered an optimal currency area. Then, a partial equilibrium model studies how optimal monetary policy changes if agents’ expectations are not fully rational due to uneven distribution of information in the economy. Inflation and output result affected both in dynamics and in the long-run equilibrium when inflation expectations are assumed heterogeneous or subject to a learning process. Finally, a dynamic stochastic general equilibrium model assesses, among others, the real effects of monetary policy in a realistic setting where firm-specific investment displays a lumpy behaviour." @default.
- W806227071 created "2016-06-24" @default.
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- W806227071 date "2012-01-01" @default.
- W806227071 modified "2023-09-27" @default.
- W806227071 title "Essays on monetary policy issues in macroeconomic dynamics models" @default.
- W806227071 hasPublicationYear "2012" @default.
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