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Article: Variability in the effects of monetary policy on economic activity

TitleVariability in the effects of monetary policy on economic activity
Authors
Issue Date2000
Citation
Journal Of Money, Credit And Banking, 2000, v. 32 n. 2, p. 179-198 How to Cite?
AbstractThis paper documents and interprets the variability in the effects of monetary policy on economic activity using the method of rolling vector autoregression and United States data from 1959:01 to 1994:12. While I find robust support for short-run price stickiness and long-run output neutrality, I also find that the responses of output and price levels to monetary shocks are otherwise quite variable. Seven episodes of differing responses are identified. The effects of monetary policy are found to be stronger when monetary shocks are negative, and are related to some gradual changes in the economy.
Persistent Identifierhttp://hdl.handle.net/10722/177704
ISSN
2015 Impact Factor: 1.356
2015 SCImago Journal Rankings: 1.973
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorWong, KFen_US
dc.date.accessioned2012-12-19T09:39:37Z-
dc.date.available2012-12-19T09:39:37Z-
dc.date.issued2000en_US
dc.identifier.citationJournal Of Money, Credit And Banking, 2000, v. 32 n. 2, p. 179-198en_US
dc.identifier.issn0022-2879en_US
dc.identifier.urihttp://hdl.handle.net/10722/177704-
dc.description.abstractThis paper documents and interprets the variability in the effects of monetary policy on economic activity using the method of rolling vector autoregression and United States data from 1959:01 to 1994:12. While I find robust support for short-run price stickiness and long-run output neutrality, I also find that the responses of output and price levels to monetary shocks are otherwise quite variable. Seven episodes of differing responses are identified. The effects of monetary policy are found to be stronger when monetary shocks are negative, and are related to some gradual changes in the economy.en_US
dc.languageengen_US
dc.relation.ispartofJournal of Money, Credit and Bankingen_US
dc.titleVariability in the effects of monetary policy on economic activityen_US
dc.typeArticleen_US
dc.identifier.emailWong, KF: kafuwong@hkucc.hku.hken_US
dc.identifier.authorityWong, KF=rp01111en_US
dc.description.naturelink_to_subscribed_fulltexten_US
dc.identifier.doi10.2307/2601238-
dc.identifier.scopuseid_2-s2.0-0039770555en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0039770555&selection=ref&src=s&origin=recordpageen_US
dc.identifier.volume32en_US
dc.identifier.issue2en_US
dc.identifier.spage179en_US
dc.identifier.epage198en_US
dc.identifier.isiWOS:000086727900003-
dc.publisher.placeUnited Statesen_US
dc.identifier.scopusauthoridWong, KF=8872594700en_US

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