| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP15005 |
| DP15005 Asymmetric Effects of Monetary Policy Easing and Tightening | |
| Mario Forni; Davide Debortoli; Luca Gambetti; Luca Sala | |
| 发表日期 | 2020-07-06 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Monetary policy easing and tightening have asymmetric effects: a policy easing has large effects on prices but small effects on real activity variables. The opposite is found for a policy tightening: large real effects but small effects on prices. Nonlinearities are estimated using a new and simple procedure based on linear Strutural Vector Autoregressions with exogenous variables (SVARX). We rationalize the result through the lens of a simple model with downward nominal wage rigidities. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Monetary policy shocks Nonlinear effects Structural var models |
| URL | https://cepr.org/publications/dp15005 |
| 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/543954 |
| 推荐引用方式 GB/T 7714 | Mario Forni,Davide Debortoli,Luca Gambetti,et al. DP15005 Asymmetric Effects of Monetary Policy Easing and Tightening. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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