How much inevitable US-Euro Area interdependence is there in monetary policy? |
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| Authors: | Sylvester C W Eijffinger |
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| Institution: | (1) European Financial Economics and Jean Monnet Professor of European Financial and Monetary Integration, CentER, Tilburg University, Tilburg, The Netherlands;(2) European Financial Integration, RSM Erasmus University, Rotterdam, The Netherlands;(3) CEPR, London, UK |
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| Abstract: | Against the backdrop of the present international financial and economic crisis this article looks into the issue of the interdependence of US monetary policy and monetary policy in the euro area. Is there a significant interdependence? If so, what is the nature and intensity of this interdependence? Has the ECB been infl uenced by the Fed or vice versa and to what degree? Has the relationship changed in recent years, and if so, in what direction? |
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