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@article{ Sousa2009,
 title = {The Transmission of Monetary Policy and Technology Shocks in the Euro Area},
 author = {Sousa, Joao and Alves, Nuno and Gomes, Sandra and Brito, José Brandão},
 journal = {Applied Economics},
 number = {8},
 pages = {917-927},
 volume = {43},
 year = {2009},
 issn = {1466-4283},
 doi = {https://doi.org/10.1080/00036840802600186},
 urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-242604},
 abstract = {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.},
}