Monetary Policy Matters : New Evidence Basedon a New Shock Measure

New Evidence Basedon a New Shock Measure

Monetary Policy Matters : New Evidence Basedon a New Shock Measure
Conventional VAR and non-VAR methods of identifying the effects of monetary policy shocks on the economy have found a negative output response to monetary tightening using U.S. data over the 1960s-1990s. However, we show that these methods fail to find this contractionary effect when the sample is restricted to the period since the 1980s, READ MORE...

Publication date: October 2010
ISBN 9781455208951
$18.00

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