Lafuente, Juan A.; Pérez, Rafaela; Ruiz, Jesús - In: International Review of Economics & Finance 29 (2014) C, pp. 400-408
This paper provides empirical evidence on monetary policy making for the US, the UK and the EMU using the decomposition in persistent and transitory monetary shocks proposed in Andolfatto, Hendry, and Moran [Journal of Monetary Economics 55 (2008) 406–422]. We use the particle filter to...