Academic Journal
STOP‐GO MONETARY POLICY
| العنوان: | STOP‐GO MONETARY POLICY |
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| المؤلفون: | Chappell, Henry W., Harris, Mark N., McGregor, Rob Roy, Spencer, Christopher |
| المساهمون: | Australian Research Council |
| المصدر: | Economic Inquiry ; volume 57, issue 3, page 1698-1717 ; ISSN 0095-2583 1465-7295 |
| بيانات النشر: | Wiley |
| سنة النشر: | 2019 |
| المجموعة: | Wiley Online Library (Open Access Articles via Crossref) |
| الوصف: | We propose and estimate several discrete choice models of monetary policy decision‐making that feature time‐varying inertia. The models permit us to account for three stylized facts characterizing monetary policymaking in the United States: (1) target interest rates are gradually adjusted in small discrete movements, (2) there are some long stretches of time in which rates are repeatedly moved, and (3) there are other long stretches in which the policy rate does not change. The models are used to account for delayed monetary policy responses to the recession of 2001 and to the housing‐driven expansion of 2003–2006. ( JEL E52, E58, E65) |
| نوع الوثيقة: | article in journal/newspaper |
| اللغة: | English |
| DOI: | 10.1111/ecin.12787 |
| الاتاحة: | http://dx.doi.org/10.1111/ecin.12787 https://onlinelibrary.wiley.com/doi/pdf/10.1111/ecin.12787 https://onlinelibrary.wiley.com/doi/full-xml/10.1111/ecin.12787 https://onlinelibrary.wiley.com/doi/am-pdf/10.1111/ecin.12787 |
| Rights: | http://onlinelibrary.wiley.com/termsAndConditions#am ; http://onlinelibrary.wiley.com/termsAndConditions#vor |
| رقم الانضمام: | edsbas.4B7AE44A |
| قاعدة البيانات: | BASE |
| DOI: | 10.1111/ecin.12787 |
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