| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21796 |
| 来源ID | Working Paper 21796 |
| Money and Output: Friedman and Schwartz Revisited | |
| Michael T. Belongia; Peter N. Ireland | |
| 发表日期 | 2015-12-14 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | More than fifty years ago, Friedman and Schwartz examined historical data for the United States and found evidence of pro-cyclical movements in the money stock, which led corresponding movements in output. We find similar correlations in more recent data; these appear most clearly when Divisia monetary aggregates are used in place of the Federal Reserve’s official, simple-sum measures. When we use information in Divisia money to estimate a structural vector autoregression, identified monetary policy shocks appear to have large and persistent effects on output and prices, with a lag that has lengthened considerably since the early 1980s. |
| 主题 | Macroeconomics ; Business Cycles ; Monetary Policy |
| URL | https://www.nber.org/papers/w21796 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579470 |
| 推荐引用方式 GB/T 7714 | Michael T. Belongia,Peter N. Ireland. Money and Output: Friedman and Schwartz Revisited. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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