Monetary Policy, Output Composition and the Great Moderation
نویسندگان
چکیده
منابع مشابه
Monetary Policy and the Great Moderation Monetary Policy and the Great Moderation
Increased focus on price stability by a discretionary central bank reduces output and price volatility in a model with rationally inattentive …rms. The volatility reduction can be arbitrarily large, e.g., imply a 'Great Moderation', and is particularly pronounced when …rms can process information almost perfectly. The model-implied vector auto-regressive (VAR) dynamics are consistent with the e...
متن کاملMonetary Policy and the Great Moderation
Increased focus on price stability by a discretionary central bank reduces output and price volatility in a model with rationally inattentive rms. The volatility reduction can be arbitrarily large, e.g., imply a Great Moderation, and is particularly pronounced when rms can process information almost perfectly. The model-implied vector auto-regressive (VAR) dynamics are consistent with the e...
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this paper aims to investigate the role of each aggregate spending component in the monetary policy transmission in indonesia. it assesses the relative strength of the role of each spending component in the monetary policy transmission. in so doing, this study employs the contribution analysis, which is calculated based on the cumulative impulse response of each component of gdp to a monetary p...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.1001493