We first estimate the effects of a euro area‐wide monetary policy change on output growth in
eleven industries of seven euro area countries over the period 1980–98. On average the …

This paper provides new evidence on the channels of monetary policy transmission
combining 9 million observations on firm level investment and high-frequency identified …

This paper studies the monetary transmission mechanism using disaggregated industry data
from five industrialized countries. Our goal is to document the cross-industry heterogeneity of …

The question of monetary policy transmission has always been of key interest for monetary
policy, but most of the research in this area, by nature of the topic, has been concentrating …

This paper measures the impact of monetary policy shocks on regional and sectoral output
in the Netherlands for the period 1973 to 1993. We document large regional and sectoral …

The paper exploits a unique panel, covering some 2,000 Italian manufacturing firms and 14
years of data on individual prices and individual interest rates paid on several types of debt …

This paper investigates the disaggregated effects of monetary policy shocks on the output of
24 sectors of the UK economy. The paper's principal aim is to provide stylised facts about the …

In large industrial economies, changes in monetary policy affect real economic activity in the
short run but only prices in the long run. In transition economies, the question of whether …

This paper analyses persistence differences in financial structure across countries of the
euro area and whether they can lead to asymmetries in the transmission of the ECB policy …

Numerous recent publications have been devoted to a theoretical analysis of the various
channels of monetary policy transmission. 1 On the empirical side, the evidence is still far …