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Does money still matter for U.S. output?
Berger, Helge (contributor); Österholm, Pär (contributor) - 2008
In this note, we use multivariate models estimated with Bayesian techniques and an out-ofsample approach to investigate whether money growth Granger-causes output growth in the United States. We find surprisingly strong evidence for a money-output link over the 1960-2005 period. However, further...
Persistent link: https://www.econbiz.de/10003726100
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Has the Credit Supply Shock Asymmetric Effects on Macroeconomic Variables?
Colombo, Valentina - 2020
We investigate the role played by the credit supply shock across the business cycle in the U.S. over the period 1973 … credit supply shock triggers asymmetric and negative effects on macroeconomic variables. We find that the state …-dependent forecast error variance decomposition of industrial production, employment, and inflation due to the shock is from six to eight …
Persistent link: https://www.econbiz.de/10012844561
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Has the credit supply shock asymmetric effects on macroeconomic variables?
Colombo, Valentina; Paccagnini, Alessia - 2020
We investigate the role played by the credit supply shock across the business cycle in the U.S. over the period 1973 … credit supply shock triggers asymmetric and negative effects on macroeconomic variables. We find that the state …-dependent forecast error variance decomposition of industrial production, employment, and inflation due to the shock is from six to eight …
Persistent link: https://www.econbiz.de/10012149154
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Inventory Shocks and the Great Moderation
Morley, James - 2015
Why did the volatility of U.S. real GDP decline by more than the volatility of final sales with the Great Moderation in the mid-1980s? One explanation is that firms shifted their inventory behavior towards a greater emphasis on production smoothing. We investigate the role of inventories in the...
Persistent link: https://www.econbiz.de/10013036383
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Policy and business cycle shocks : a structural factor model representation of the US economy
Forni, Mario; Gambetti, Luca - In: Journal of risk and financial management : JRFM 14 (2021) 8, pp. 1-21
find that (i) the US economy is well described by a number of structural shocks between two and five. Focusing on the four-shock …
Persistent link: https://www.econbiz.de/10012626760
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Macroeconomic shocks and racial labour market differences in the U.S.
De, Kuhelika; Compton, Ryan A.; Giedeman, Daniel C.; … - 2019
Using 136 United States macroeconomic indicators from 1973 to 2017, and a factor augmented vector autoregression (FAVAR) framework with sign restrictions, we investigate the effects of three structural macroeconomic shocks - monetary, demand, and supply - on the labour market outcomes of black...
Persistent link: https://www.econbiz.de/10012157899
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Measuring the effects of monetary policy in the Euro area : the role of anticipated policy
Gottschalk, Jan - 2001
Persistent link: https://www.econbiz.de/10013261164
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Measuring the effects of monetary policy in the euro area : the role of anticipated policy
Gottschalk, Jan; Höppner, Florian - 2001
Persistent link: https://www.econbiz.de/10001614918
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Measuring the effects of monetary policy in the euro area : the role of anticipated policy
Gottschalk, Jan; Höppner, Florian - 2001 - This Version: August 2001
This paper investigates within a SVAR framework the effects of anticipated monetary policy in the euro area. Building on a procedure recently proposed by Cochrane yielding the response of output to an anticipated monetary policy impulse, we show that in the past twenty years anticipated monetary...
Persistent link: https://www.econbiz.de/10011538850
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Measuring the effects of monetary policy in the euro area : the role of anticipated policy
Gottschalk, Jan; Höppner, Florian - 2001
This paper investigates within a SVAR framework the effects of anticipated monetary policy in the euro area. Building on a procedure recently proposed by Cochrane which yields the response of output to an anticipated monetary policy impulse, we show that in the past twenty years anticipated...
Persistent link: https://www.econbiz.de/10011476356