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When did unsystematic monetary policy have an effect on inflation?

Mojon, Benoît - In: European economic review : EER 52 (2008) 3, pp. 487-497

Persistent link: https://www.econbiz.de/10003726323

Ratio minimum de capitalisation et cycle du crédit

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Transmission de la politique monétaire et crédit bancaire : une application à cinq pays de l'OCDE

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Equilibrium risk shifting and interest rate in an opaque financial system

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When did unsystematic monetary policy have an effect on inflation?

Mojon, Benoît (contributor) - 2005

An important stylized fact to emerge from the VAR estimates is that exogenous monetary policy shocks (also labelled unsystematic monetary policy) have a delayed, persistent, hump shaped effect on in.ation. I argue that this empirical pattern is fragile. In particular it disappears when one...