G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15005
DP15005 Asymmetric Effects of Monetary Policy Easing and Tightening
Mario Forni; Davide Debortoli; Luca Gambetti; Luca Sala
发表日期2020-07-06
出版年2020
语种英语
摘要Monetary policy easing and tightening have asymmetric effects: a policy easing has large effects on prices but small effects on real activity variables. The opposite is found for a policy tightening: large real effects but small effects on prices. Nonlinearities are estimated using a new and simple procedure based on linear Strutural Vector Autoregressions with exogenous variables (SVARX). We rationalize the result through the lens of a simple model with downward nominal wage rigidities.
主题Monetary Economics and Fluctuations
关键词Monetary policy shocks Nonlinear effects Structural var models
URLhttps://cepr.org/publications/dp15005
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/543954
推荐引用方式
GB/T 7714
Mario Forni,Davide Debortoli,Luca Gambetti,et al. DP15005 Asymmetric Effects of Monetary Policy Easing and Tightening. 2020.
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