How Has the Euro Changed the Monetary Transmission?
---- Acknowledgements -----
We thank Daron Acemoglu, Olivier Blanchard, Andrea Ferrero, Jordi Galí, Bruce Preston, Veronica Rappoport, Kenneth Rogoff, Chris Sims, Frank Smets, Michael Woodford, and our discussants Lucrezia Reichlin and Harald Uhlig for valuable discussions and comments. We also benefited from the comments of participants at the 2008 NBER Macroeconomics Annual Conference, the NY Area Workshop on Monetary Policy, and seminar participants at the Bundesbank, CREI, Federal Reserve Bank of Chicago, European Central Bank, HEC Montréal, Universität Münster. Boivin and Giannoni are grateful to the National Science Foundation for financial support (SES-0518770). The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.