The systematic component of monetary policy in SVARs: An agnostic identification procedure
نویسندگان
چکیده
منابع مشابه
Measuring Systematic Monetary Policy
The 1970s and early 1980s witnessed two main approaches to the analysis of monetary policy. The first is the early new classical approach of Lucas, based on the assumptions of rational expectations and market clearing. The second is the atheoretical econometrics of Sims’s VAR program. Both have developed: the new classical approach has been enriched through various accounts of price stickiness,...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2019
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2018.07.011