English, Article edition: Following Germany's Lead: Using International Monetary Linkages to Estimate the Effect of Monetary Policy on the Economy Julian di Giovanni; Justin McCrary; Till von Wachter

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/111652
Physical Description
  • article
Language
  • English

Edition details

Title
  • Following Germany's Lead: Using International Monetary Linkages to Estimate the Effect of Monetary Policy on the Economy
Author
  • Julian di Giovanni
  • Justin McCrary
  • Till von Wachter
Physical Description
  • article
Notes
  • Forward-looking behavior on the part of the monetary authority makes it difficult to estimate the effect of monetary policy interventions on output. We present instrumental variables estimates of the impact of interest rates on quarterly real output for several European countries, using German interest rates as the instrument. These estimates confirm a strong forward-looking bias in least squares estimates that persists even conditional on standard controls for the history of the system. Due to the potential for correlation of output shocks across countries, we interpret our estimates as lower bounds for the effect of monetary policy on real output. Copyright by the President and Fellows of Harvard College and the Massachusetts Institute of Technology.
  • RePEc:tpr:restat:v:91:y:2009:i:2:p:315-331
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment