| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5474 |
| DP5474 Individual vs. Parental Consent in Marriage: Implications for Intra-Household Resource Allocation and Growth | |
| Nils-Petter Lagerlöf; Lena Edlund | |
| 发表日期 | 2006-01-24 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We investigate the implications of changes in the structure of the US economy for monetary policy effectiveness. Estimating a VAR over the pre- and post-1980 periods, we provide evidence of a reduced effect of monetary policy shocks in the latter period. We estimate a structural model that replicates well the economy's response in both periods, and perform counterfactual experiments to determine the source of the change in the monetary transmission mechanism and in the economy's volatility. We find that by responding more strongly to inflation expectations, monetary policy has stabilized the economy more effectively in the post-1980 period. |
| 主题 | International Macroeconomics |
| 关键词 | Transmission of monetary policy Minimum distance estimation Habit formation Vector autoregression Dynamic general equilibrium model Indeterminacy |
| URL | https://cepr.org/publications/dp5474 |
| 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/534332 |
| 推荐引用方式 GB/T 7714 | Nils-Petter Lagerlöf,Lena Edlund. DP5474 Individual vs. Parental Consent in Marriage: Implications for Intra-Household Resource Allocation and Growth. 2006. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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