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Identifying and estimating the effects of unconventional monetary policy: how to do it and what have we learned?

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dc.contributor.author Rossi, Barbara, 1971-
dc.date.accessioned 2021-09-07T11:54:35Z
dc.date.available 2021-09-07T11:54:35Z
dc.date.issued 2020-07-31
dc.identifier.uri http://hdl.handle.net/10230/48403
dc.description.abstract The recent financial crisis led central banks to lower their interest rates in order to stimulate the economy until they hit the zero lower bound. How should one identify monetary policy shocks in unconventional times? Are unconventional monetary policies as effective as conventional ones? And has the monetary policy transmission mechanism changed in the zero lower bound era? This article aims at providing an overview of the econometric challenges and solutions to the identi cation of monetary policy shocks in unconventional times as well as a survey of their empirical effcts on the economy.
dc.format.mimetype application/pdf
dc.language eng
dc.language.iso eng
dc.subject.other Shock identification
dc.subject.other VARs
dc.subject.other Zero lower bound
dc.subject.other Unconventional monetary policy
dc.subject.other Monetary policy
dc.subject.other External instruments
dc.subject.other Forward guidance
dc.title Identifying and estimating the effects of unconventional monetary policy: how to do it and what have we learned?
dc.type info:eu-repo/semantics/workingPaper
dc.rights.accessRights info:eu-repo/semantics/openAccess
dc.type.version info:eu-repo/semantics/draft

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