Changing Effects of Monetary Policy in the U.S. – Evidence from a Time-Varying Coefficient VAR

Melzer, Christian; Hoeppner, Florian; Neumann, Thorsten

[journal article]

dc.contributor.author	Melzer, Christian	de
dc.contributor.author	Hoeppner, Florian	de
dc.contributor.author	Neumann, Thorsten	de
dc.date.accessioned	2011-04-01T03:18:00Z	de
dc.date.accessioned	2012-08-30T04:48:27Z
dc.date.available	2012-08-30T04:48:27Z
dc.date.issued	2008	de
dc.identifier.uri	http://www.ssoar.info/ssoar/handle/document/23971
dc.description.abstract	We estimate a time-varying coefficient VAR model for the U.S. economy to analyse (i) if the effect of monetary policy on output has been changing systematically over time, and (ii) if monetary policy has asymmetric effects over the business cycle. We find that the impact of monetary policy shocks has been gradually declining over the sample period (1962-2002), as some theories of the monetary transmission mechanism imply. In addition, our results indicate that the effects of monetary policy are greater in a recession than in a boom.	en
dc.language	en	de
dc.title	Changing Effects of Monetary Policy in the U.S. – Evidence from a Time-Varying Coefficient VAR	en
dc.description.review	begutachtet (peer reviewed)	de
dc.description.review	peer reviewed	en
dc.source.journal	Applied Economics	de
dc.source.volume	40	de
dc.source.issue	18	de
dc.identifier.urn	urn:nbn:de:0168-ssoar-239714	de
dc.date.modified	2011-04-01T03:18:00Z	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	de
dc.rights.licence	PEER Licence Agreement (applicable only to documents from PEER project)	en
ssoar.contributor.institution	http://www.peerproject.eu/	de
internal.status	-1	de
dc.type.stock	article	de
dc.type.document	journal article	en
dc.type.document	Zeitschriftenartikel	de
dc.source.pageinfo	2353-2360
internal.identifier.journal	21	de
internal.identifier.document	32
dc.identifier.doi	https://doi.org/10.1080/00036840600970112	de
dc.description.pubstatus	Postprint	en
dc.description.pubstatus	Postprint	de
internal.identifier.licence	7
internal.identifier.pubstatus	2
internal.identifier.review	1
internal.check.abstractlanguageharmonizer	CERTAIN
internal.check.languageharmonizer	CERTAIN_RETAINED

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