The dynamics of US inflation: Can monetary policy explain the changes?
2012
Canova, Fabio | Ferroni, Filippo
We investigate the relationship between monetary policy and inflation dynamics in the US using a medium scale structural model. The specification is estimated with Bayesian techniques and fits the data reasonably well. Policy shocks account for a part of the decline in inflation volatility; they have been less effective in triggering inflation responses over time and qualitatively account for the rise and fall in the level of inflation. A number of structural parameter variations contribute to these patterns.
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书目信息
Journal of econometrics
卷
167
期
1
页码
47
- 60
ISSN
0304-4076
出版者
Elsevier B.V.
其它主题
United states; Monetary policy
语言
英语
类型
Journal Article; Text
2024-02-28
MODS