The dynamics of US inflation: Can monetary policy explain the changes?

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Journal of Econometrics, 167 (1), 47-60, 2011
http://hdl.handle.net/10230/11736
To cite or link this document: http://hdl.handle.net/10230/11736
dc.contributor.author Canova, Fabio
dc.contributor.author Ferroni, Filippo
dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
dc.date.issued 2010-06-01
dc.identifier.citation Journal of Econometrics, 167 (1), 47-60, 2011
dc.identifier.uri http://hdl.handle.net/10230/11736
dc.description.abstract 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.
dc.language.iso eng
dc.relation.ispartofseries Economics and Business Working Papers Series; 1241
dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.title The dynamics of US inflation: Can monetary policy explain the changes?
dc.type info:eu-repo/semantics/workingPaper
dc.date.modified 2014-06-03T07:14:27Z
dc.subject.keyword Macroeconomics and International Economics
dc.subject.keyword new keynesian model
dc.subject.keyword bayesian methods
dc.subject.keyword monetary policy
dc.subject.keyword inflation dynamics.
dc.rights.accessRights info:eu-repo/semantics/openAccess


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