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What can earnings calls tell us about the output gap and inflation in Canada?
Gosselin, Marc-André; Taskin, Temel - 2023
We construct new indicators of the imbalance between demand and supply for the Canadian economy by using natural language processing techniques to analyze earnings calls of publicly listed firms. The results show that the text-based indicators are highly correlated with official inflation data...
Persistent link: https://www.econbiz.de/10014303896
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Estimating the immediate impact of monetary policy shocks on the exchange rate and other asset prices in Hungary
Rezessy, András - 2005
. The endogeneity problem is treated with the method of identification through heteroskedasticity as described by Rigobon …
Persistent link: https://www.econbiz.de/10010322405
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Estimating the effect of Hungarian monetary policy within a structural VAR framework
Vonnák, Balázs - 2005
Hungarian data. I compare two identification approaches. One of them involves the ‘sign restrictions on impulse responses … history. My argument is that in certain cases, especially in the case of the Hungarian economy, the latter identification … identification approaches produced very similar results, imposing restrictions on history may help to dampen counterintuitive …
Persistent link: https://www.econbiz.de/10010322447
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Are central bank preferences asymmetric? A comment
Minford, Patrick; Srinivasan, Naveen - 2008
hypothesis suffers from lack of identification because Phillips curve nonlinearity combined with quadratic central bank …
Persistent link: https://www.econbiz.de/10010322781
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What are the Effects of Monetary Policy Shocks? Evidence from Dollarized Countries
Willems, Tim - 2010
Traditional ways of analyzing the effects of monetary policy shocks via structural vector autoregressions require the use of unrealistic identifying assumptions: they either do not allow for a response of output and prices on impact of the shock, or they exclude contemporaneous values of these...
Persistent link: https://www.econbiz.de/10010325927
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Alternative Indicator of Moneary Policy for a Small Open Economy
Cuche, Nicolas A. - 2000
We analyze several identification frameworks based on operating procedures to measure monetary policy in a small open …
Persistent link: https://www.econbiz.de/10011430022
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Monetary policy and exchange rate interactions in a small open economy
Bjørnland, Hilde C. - 2005
This paper analyses the transmission mechanisms of monetary policy in a small open economy like Norway through structural VARs, paying particular attention to the interdependence between the monetary policy stance and exchange rate movements in the inflation-targeting period. Previous studies of...
Persistent link: https://www.econbiz.de/10010284259
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Identifying the interdependence between US monetary policy and the stock market
Bjørnland, Hilde C.; Leitemo, Kai - 2005
We estimate the interdependence between US monetary policy and the S&P 500 using structural VAR methodology. A solution is proposed to the simultaneity problem of identifying monetary and stock price shocks by using a combination of short-run and long-run restrictions that maintains the...
Persistent link: https://www.econbiz.de/10010284471
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Monetary policy and the illusionary exchange rate puzzle
Bjørnland, Hilde C. - 2005
Dornbusch’s exchange rate overshooting hypothesis is a central building block in international macroeconomics. Yet, empirical studies of monetary policy have typically found exchange rate effects that are inconsistent with overshooting. This puzzling result has developed into a “styled...
Persistent link: https://www.econbiz.de/10010284488