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Monetary Policy in a Data-Rich Environment
Bernanke, Ben; Boivin, Jean - 2021
Most empirical analyses of monetary policy have been confined to frameworks in which the Federal Reserve is implicitly assumed to exploit only a limited amount of information, despite the fact that the Fed actively monitors literally thousands of economic time series. This article explores the...
Persistent link: https://www.econbiz.de/10013226548
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Bias in U.S. Import Prices and Demand
Feenstra, Robert C.; Shiells, Clinton R. - 2021
The purpose of the paper is to measure the potential bias in the U.S. import price index due to the appearance of new product varieties, or new foreign suppliers, and determine the effect of this bias on the estimated income elasticity of import demand. Existing import price indexes are based on...
Persistent link: https://www.econbiz.de/10013237262
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U.S. Imports, Exports, and Tariff Data, 1989-2001
Feenstra, Robert C.; Romalis, John; Schott, Peter K. - 2021
This paper describes the updating of the NBER trade dataset, which now provides U.S. import and export values to the year 2001, disaggregated by Harmonized System (HS), Standard International Trade Classification (SITC), and the U.S. Standard Industrial Classification (SIC) categories. In...
Persistent link: https://www.econbiz.de/10013245505
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How Has the Euro Changed the Monetary Transmission?
Boivin, Jean; Mojon, Benoit; Giannoni, Marc P. - 2021
This paper characterizes the transmission mechanism of monetary shocks across countries of the euro area, documents how … this mechanism has changed with the introduction of the euro, and explores some potential explanations. The factor …-augmented VAR (FAVAR) framework used is sufficiently rich to jointly model the euro area dynamics while permitting the transmission …
Persistent link: https://www.econbiz.de/10013233890