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Is the effect of monetary policy on the productive capacity of the economy long lived? Yes, in fact we find such impacts are significant and last for over a decade based on: (1) merged data from two new international historical databases; (2) identification of exogenous monetary policy using the...
Persistent link: https://www.econbiz.de/10012842574
Does monetary policy have persistent effects on the productive capacity of the economy? Yes, we find that such effects are economically and statistically significant and last for over a decade based on: (1) identification of exogenous monetary policy fluctuations using the trilemma of...
Persistent link: https://www.econbiz.de/10012843626
comovement in credit, house prices, and equity prices has reached historical highs in the past three decades. The sharp increase …
Persistent link: https://www.econbiz.de/10012916914
Is the effect of monetary policy on the productive capacity of the economy long lived? Yes, in fact we find such impacts are significant and last for over a decade based on: (1) merged data from two new international historical databases; (2) identification of exogenous monetary policy using the...
Persistent link: https://www.econbiz.de/10012479190
Persistent link: https://www.econbiz.de/10012241388
Persistent link: https://www.econbiz.de/10011882141
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Persistent link: https://www.econbiz.de/10011898961
comovement in credit, house prices, and equity prices has reached historical highs in the past three decades. The sharp increase …
Persistent link: https://www.econbiz.de/10012453043
Identifying exogenous variation in monetary policy is crucial for investigating central bank policy transmission. Using … newly-collected archival real-time data utilized by the Central Bank Council of the German Bundesbank, we identify … produce conventional effects on the German domestic economy: activity, prices, and credit decline significantly following a …
Persistent link: https://www.econbiz.de/10013388841