| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14064 |
| DP14064 Identifying and Estimating the Effects of Unconventional Monetary Policy: How to Do It And What Have We Learned? | |
| Barbara Rossi | |
| 发表日期 | 2019-10-18 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | 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 identification of monetary policy shocks in unconventional times as well as a survey of their empirical effects on the economy. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Shock identification Vars Zero lower bound Unconventional monetary policy monetary policy External instruments Forward guidance |
| URL | https://cepr.org/publications/dp14064 |
| 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/542950 |
| 推荐引用方式 GB/T 7714 | Barbara Rossi. DP14064 Identifying and Estimating the Effects of Unconventional Monetary Policy: How to Do It And What Have We Learned?. 2019. |
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