Monetary policy shocks: testing identification conditions under time-varying conditional volatility

Article Abstract:

The paper proposes a procedure to test the targeting and orthogonal restrictions. The procedure accounts for time-varying of fundamental disturbances. The pronounced movements are found to coincide with Continental Illinois incident and the 1990-1991 recession.

Illinois, Economic aspects, Financial crises

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Taylor rules, McCallum rules and the term structure of interest rates

Article Abstract:

The works of J.B. Taylor and Bennett T. McCallum on the impact of maturity structure of interest rates, on monetary reforms, are examined.

Forecasts, trends, outlooks, Research and Development in the Social Sciences and Humanities, Interest Rates, Economists, Forecasts and trends, Market trend/market analysis, Works, McCallum, Bennett T., Taylor, J.B.

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Data revisions and the identification of monetary policy shocks

Article Abstract:

The effects of Federal Reserve Board's monetary policy shocks, using vector autoregression analysis, are examined.

Government expenditures, Usage, Economic policy, United States. Federal Reserve Board, Autoregression (Statistics)

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