EMU and the monetary transmission mechanism
The EMU study by HM Treasury EMU and the monetary transmission mechanism analyses the speed and strength of the response of the economy to changes in monetary policy in the UK and the euro area. It considers whether the UK response to changes in monetary policy is different to that of the euro area, what the effect of those differences might be and whether any differences would be likely to remain if the UK were to join EMU.
EMU and the monetary transmission mechanism below is available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
EMU and the monetary transmission mechanism
PDF file of Executive Summary (92kb)
PDF file of Chapters 1, 2, 3 (320kb)
PDF file of Chapters 4, 5, 6, 7; references (190kb)