Does Monetary Policy Work Effectively In 10 European Countries? New Evidence From Fisher Effect
This study examines the Fisher effect for 10 European Union countries over a period from January 1987 to December 2012. A battery of panel unit root tests shows that the monthly real interest rates in these countries are mean reverting. The series-specific panel SURADF test of Breuer et al. (2002)...
| Main Authors: | , |
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| Format: | Proceeding |
| Language: | English |
| Published: |
2013
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| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/17998/ http://ir.unimas.my/id/eprint/17998/1/DOES%20MONETARY%20POLICY%20WORK%20EFFECTIVELY%20IN%2010%20EUROPEAN%20COUNTRIES%20%28abstract%29.pdf |
| _version_ | 1848838413309968384 |
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| author | Ling, Tai-Hu Liew, Venus Khim-Sen |
| author_facet | Ling, Tai-Hu Liew, Venus Khim-Sen |
| author_sort | Ling, Tai-Hu |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | This study examines the Fisher effect for 10 European Union countries over a period from January
1987 to December 2012. A battery of panel unit root tests shows that the monthly real interest rates in
these countries are mean reverting. The series-specific panel SURADF test of Breuer et al. (2002)
reveals that 9 country series reject the unit root null hypothesis, except for 1 country series. These
results have one extremely important policy implication is that monetary collaboration within 10
European counties is the key determinant to achieve the long-run macroeconomic stability. Policy
makers in European Central Bank need to closely monitor the monetary stability particularly in
Luxembourg towards establishing a strong European monetary union. |
| first_indexed | 2025-11-15T06:55:09Z |
| format | Proceeding |
| id | unimas-17998 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:55:09Z |
| publishDate | 2013 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-179982017-10-09T02:04:56Z http://ir.unimas.my/id/eprint/17998/ Does Monetary Policy Work Effectively In 10 European Countries? New Evidence From Fisher Effect Ling, Tai-Hu Liew, Venus Khim-Sen H Social Sciences (General) This study examines the Fisher effect for 10 European Union countries over a period from January 1987 to December 2012. A battery of panel unit root tests shows that the monthly real interest rates in these countries are mean reverting. The series-specific panel SURADF test of Breuer et al. (2002) reveals that 9 country series reject the unit root null hypothesis, except for 1 country series. These results have one extremely important policy implication is that monetary collaboration within 10 European counties is the key determinant to achieve the long-run macroeconomic stability. Policy makers in European Central Bank need to closely monitor the monetary stability particularly in Luxembourg towards establishing a strong European monetary union. 2013 Proceeding NonPeerReviewed text en http://ir.unimas.my/id/eprint/17998/1/DOES%20MONETARY%20POLICY%20WORK%20EFFECTIVELY%20IN%2010%20EUROPEAN%20COUNTRIES%20%28abstract%29.pdf Ling, Tai-Hu and Liew, Venus Khim-Sen (2013) Does Monetary Policy Work Effectively In 10 European Countries? New Evidence From Fisher Effect. In: Proceedings of the 2nd Applied International Business Conference, 7-8 December 2016, Universiti Malaysia Sabah, Labuan, Malaysia. |
| spellingShingle | H Social Sciences (General) Ling, Tai-Hu Liew, Venus Khim-Sen Does Monetary Policy Work Effectively In 10 European Countries? New Evidence From Fisher Effect |
| title | Does Monetary Policy Work Effectively In 10 European Countries? New Evidence From Fisher Effect |
| title_full | Does Monetary Policy Work Effectively In 10 European Countries? New Evidence From Fisher Effect |
| title_fullStr | Does Monetary Policy Work Effectively In 10 European Countries? New Evidence From Fisher Effect |
| title_full_unstemmed | Does Monetary Policy Work Effectively In 10 European Countries? New Evidence From Fisher Effect |
| title_short | Does Monetary Policy Work Effectively In 10 European Countries? New Evidence From Fisher Effect |
| title_sort | does monetary policy work effectively in 10 european countries? new evidence from fisher effect |
| topic | H Social Sciences (General) |
| url | http://ir.unimas.my/id/eprint/17998/ http://ir.unimas.my/id/eprint/17998/1/DOES%20MONETARY%20POLICY%20WORK%20EFFECTIVELY%20IN%2010%20EUROPEAN%20COUNTRIES%20%28abstract%29.pdf |