Monetary Policy and the Relative Price of Durable Goods

Monetary Policy and the Relative Price of Durable Goods
In a SVAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new-house and nondurables prices. These findings are rationalized via the estimation of a two-sector New-Keynesian (NK) models. Durables prices... READ MORE...

Publication date: December 2017
ISBN 9781484335451
$18.00

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