Narrative and VAR approaches to monetary policy: common identification problems

Article Abstract:

A study evaluates the narrative and vector autoregression approaches to modeling monetary policy. The study presents in particular common identification problems of the two approaches relative to generating dynamic responses equitable to effects of monetary policy and variables susceptibility to endogenous responses of monetary policy. Results reveal that both approaches fail in overcoming identification problems in time series models.

Econometrics & Model Building, Models, Usage, Econometrics, Model theory, Business models, Time-series analysis, Time series analysis, Vector spaces, Vectors (Mathematics)

---

In search of the liquidity effect

Article Abstract:

A study of the relationship between monetary aggregates and interest rates is presented. The study assumes the relationship, called the liquidity effect, under conditions of sample period variations, past information correlation conditions, exogenous money growth and anticipated or unanticipated money changes. Results show that traditional analysis and current models based on demand behavior cannot support observed correlations.

Research, Economic aspects, Interest rates, Liquidity (Finance)

---

Modest policy interventions

Article Abstract:

A modest policy intervention is a change in policy consistent with the historical variation in policy under the prevailing regime. A theoretical and empirical framework for computing and evaluating linear projections conditional on hypothetical paths of monetary policy is presented.

United States

Similar abstracts:

• Abstracts: The bond rate and estimated monetary policy rules. UK inflation in the 1970s and 1980s: the role of output gap mismeasurement
• Abstracts: Taking a realistic approach to trademark protection in the Gulf countries. Local producer found guilty of trademark infringement in landmark Saudi case: Bettol producer drops civil suit
• Abstracts: Productivity in Swedish electricity retail distribution. Parametric approaches to productivity measurement: a comparison among alternative models
• Abstracts: An indirect approach to measuring productivity in private services. Return and dynamics: the path of labor migration when workers differ in their skills and information is asymmetric
• Abstracts: Market behavior in the presence of costly, imperfect information: experimental evidence. Examining risk preferences under high monetary incentives: experimental evidence from the People's Republic of China

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.