What is it about?
We study the impact of money and monetary policy shocks through several European crises. We show that money has a significant role during crisis periods while before and after a crisis, this impact is insignificant.
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Why is it important?
Money are often disregarded by the New Keynesian DSGE literature. Our results show that money is an important variable during crisis, impacting the monetary transmission channels, among other things.
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This page is a summary of: MONEY AND MONETARY POLICY IN THE EUROZONE: AN EMPIRICAL ANALYSIS DURING CRISES, Macroeconomic Dynamics, March 2016, Cambridge University Press,
DOI: 10.1017/s1365100515000644.
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