Regime-dependent effects of monetary policy shocks. Evidence from threshold vector autoregressions
This paper studies regime dependence in the effects of monetary policy shocks for the U.S. using a threshold vector autoregressive model. In a high inflation regime the standard results from the literature obtain. In a low inflation regime output shows no significant response to monetary policy whil...
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Veröffentlicht in: | MAGKS - Joint Discussion Paper Series in Economics (Band 08-2010) |
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Format: | Arbeit |
Sprache: | Englisch |
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Philipps-Universität Marburg
2010
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MAGKS - Joint Discussion Paper Series in Economics