| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP4386 |
| DP4386 Ramsey Monetary Policy and International Relative Prices | |
| Tommaso Monacelli; Ester Faia | |
| 发表日期 | 2004-05-23 |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We use a quantitative model of the US economy to analyse the response of long-term interest rates to monetary policy, and compare the model results with empirical evidence. We find that the model can explain the strong and time-varying yield curve response to monetary policy innovations found in the data. A key ingredient in explaining the yield curve response is central bank private information about the state of the economy or about its own target for inflation. |
| 主题 | International Macroeconomics |
| 关键词 | Term structure of interest rates Yield curve Central bank private information Excess sensitivity |
| URL | https://cepr.org/publications/dp4386 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/533340 |
| 推荐引用方式 GB/T 7714 | Tommaso Monacelli,Ester Faia. DP4386 Ramsey Monetary Policy and International Relative Prices. 2004. |
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