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Markets segmentation and the "hump-shaped" response of output to monetary policy shocks
Occhino, Filippo (contributor) - 2004 - [Elektronische Ressource]
In the data, after a contractionary monetary policy shock aggregate output decreases over time, with a trough after … part of the households are excluded from financial markets. A contractionary monetary policy shock is modeled as an …, and decays over time. When markets are segmented, however, the shock has an additional liquidity effect, increasing the …
Persistent link: https://www.econbiz.de/10002101882
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The role of permanent and transitory components in business cycle volatility moderation
Korenok, Oleg (contributor);  … - 2004 - [Elektronische Ressource]
The paper examines the processes underlying economic fluctuations by investigating the volatility moderation of U.S. economy in the early 1980's. We decompose the volatility decline using a dynamic factor framework into a common stochastic trend, common transitory component and idiosyncratic...
Persistent link: https://www.econbiz.de/10002102020
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Monetary policy shocks in an economy with segmented markets
Occhino, Filippo (contributor) - 2001 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001629585
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Markets segmentation and the real interest rate response to monetary policy shocks
Occhino, Filippo (contributor) - 2004 - [Elektronische Ressource]
Following a contractionary monetary policy shock, the aggregate output decreases over time for six to eight quarters …
Persistent link: https://www.econbiz.de/10001889365