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Discussion Paper

Country-Specific Effects of Euro-Area Monetary Policy: The Role of Sectoral Differences


Abstract: Economic growth in some euro area countries has been lackluster since the COVID-19 pandemic. Concurrently, the ECB hiked its policy rate to fight inflation. In this note, we show that high interest rates have depressed economic activity more in those euro-area countries with large manufacturing sectors.

https://doi.org/10.17016/2380-7172.3649

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File(s): File format is text/html https://www.federalreserve.gov/econres/notes/feds-notes/country-specific-effects-of-euro-area-monetary-policy-the-role-of-sectoral-differences-20241112.html

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Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2024-11-12

Number: 2024-11-12-2