The industry effects of monetary policy in the Euro area by Gert Peersman and Frank Smets: a review

Authors

Ade O. Adenuga, Central Bank of Nigeria

Publisher

Central Bank of Nigeria

Keywords

Industry effect, Monetary policy, Euro

Abstract

The article sheds some light on the question of whether monetary policy has stronger effects on economic activity in recessions than in expansions. It analyzed which industries are relatively more affected in downturns. The estimation was done by examining eleven manufacturing industries in seven countries of the euro area. The article is related to the works of Garcia and Schaller,1995; Kakes, 1998; Dolado and Maria-Dolores, 1999; and Peersman and Smets, 2001.

Author Bio

Mr. Adenuga is a Principal Economist, Research and Statistics Department, Central Bank of Nigeria.

Publication Title

CBN Economic and Financial Review

Issue

2

Volume

45

Recommended Citation

Adenuga, A. O. (2007). The industry effects of monetary policy in the Euro area by Gert Peersman and Frank Smets: a review. CBN Economic and Financial Review, 45(2), 99-105.