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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...
সংরক্ষণ করুন:
| প্রকাশিত: | MAGKS - Joint Discussion Paper Series in Economics (Band 08-2010) |
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| প্রধান লেখক: | |
| বিন্যাস: | Arbeit |
| ভাষা: | ইংরেজি |
| প্রকাশিত: |
Philipps-Universität Marburg
2010
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| বিষয়গুলি: | |
| অনলাইন ব্যবহার করুন: | পিডিএফ এ সম্পূর্ন পাঠ |
| ট্যাগগুলো: |
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| সংক্ষিপ্ত: | 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 while the inflation response is negative. The paper endogenously determines two distinct regimes, while the literature thus far only considers alternative subsamples. |
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| দৈহিক বর্ননা: | 12 Seiten |
| আইএসএসএন: | 1867-3678 |
| ডিওআই: | 10.17192/es2024.0038 |