Showing 51 - 60 of 490,533
Persistent link: https://www.econbiz.de/10011916734
We study the identification of policy shocks in Bayesian proxy VARs for the case that the instrument consists of sparse qualitative observations indicating the signs of certain shocks. We propose two identification schemes, i.e. linear discriminant analysis and a non-parametric sign concordance...
Persistent link: https://www.econbiz.de/10012138603
Persistent link: https://www.econbiz.de/10014315631
We find that macroeconomic uncertainty plays a significant role in U.S. monetary policy. First, we construct a measure of uncertainty as felt by policymakers at the time of making their rate-setting decisions. This measure is derived from a real-time, Bayesian estimation of a small monetary VAR...
Persistent link: https://www.econbiz.de/10014265941
This paper reconsiders the role of macroeconomic shocks and policies in determining the Great Recession and the subsequent recovery in the US. The Great Recession was mainly caused by a large demand shock and by the ZLB on the interest rate policy. In contrast with previous findings, the...
Persistent link: https://www.econbiz.de/10011434680
Persistent link: https://www.econbiz.de/10008935452
Persistent link: https://www.econbiz.de/10008811071
Persistent link: https://www.econbiz.de/10011911929
Persistent link: https://www.econbiz.de/10014631580
Persistent link: https://www.econbiz.de/10014460652