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%T The Transmission of Monetary Policy and Technology Shocks in the Euro Area
%A Sousa, Joao
%A Alves, Nuno
%A Gomes, Sandra
%A Brito, José Brandão
%J Applied Economics
%N 8
%P 917-927
%V 43
%D 2009
%@ 1466-4283
%= 2011-04-01T04:58:00Z
%~ http://www.peerproject.eu/
%> https://nbn-resolving.org/urn:nbn:de:0168-ssoar-242604
%X This paper analyzes the response of a set of euro area macroeconomic variables to monetary policy and technology shocks based on structural VARs. The data set runs from 1970Q1 until 2006Q4 and includes a novel long-run series for hours worked per capita in the euro area. We find that real macroeconomic variables follow a hump-shaped response after monetary policy shocks and jump on impact after technology shocks. We also provide evidence that hours worked fall after a positive technology shock. These conclusions are robust to different sample periods and specifications of the variables.
%G en
%9 journal article
%W GESIS - http://www.gesis.org
%~ SSOAR - http://www.ssoar.info