The cost channel reconsidered : a comment using an identification-robust approach

Bibliographic Details
Main Author: Gabriel, Vasco J.
Publication Date: 2010
Other Authors: Martins, Luís F.
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: http://hdl.handle.net/1822/11657
Summary: We re-examine the empirical relevance of the cost channel of monetary policy (e.g. Ravenna and Walsh, 2006), employing recently developed moment-conditions inference methods, including identification-robust procedures. Using US data, our results suggest that the cost channel effect is poorly identified and we are thus unable to corroborate the previous results in the literature.
id RCAP_dc9e0b07223a5de6e02f1f5af64dda7b
oai_identifier_str oai:repositorium.sdum.uminho.pt:1822/11657
network_acronym_str RCAP
network_name_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository_id_str https://opendoar.ac.uk/repository/7160
spelling The cost channel reconsidered : a comment using an identification-robust approachCost channelPhillips curveGMMGeneralized empirical likelihoodWeak identificationWe re-examine the empirical relevance of the cost channel of monetary policy (e.g. Ravenna and Walsh, 2006), employing recently developed moment-conditions inference methods, including identification-robust procedures. Using US data, our results suggest that the cost channel effect is poorly identified and we are thus unable to corroborate the previous results in the literature.Fundação para a Ciência e a Tecnologia (FCT) - PTDC/ECO/68367/2006ESRC - RES-061-25-0115Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoGabriel, Vasco J.Martins, Luís F.20102010-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/1822/11657eng“NIPE Working Paper”. 30 (2010) 1-12.info:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-05-11T07:05:25Zoai:repositorium.sdum.uminho.pt:1822/11657Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T16:15:05.083598Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv The cost channel reconsidered : a comment using an identification-robust approach
title The cost channel reconsidered : a comment using an identification-robust approach
spellingShingle The cost channel reconsidered : a comment using an identification-robust approach
Gabriel, Vasco J.
Cost channel
Phillips curve
GMM
Generalized empirical likelihood
Weak identification
title_short The cost channel reconsidered : a comment using an identification-robust approach
title_full The cost channel reconsidered : a comment using an identification-robust approach
title_fullStr The cost channel reconsidered : a comment using an identification-robust approach
title_full_unstemmed The cost channel reconsidered : a comment using an identification-robust approach
title_sort The cost channel reconsidered : a comment using an identification-robust approach
author Gabriel, Vasco J.
author_facet Gabriel, Vasco J.
Martins, Luís F.
author_role author
author2 Martins, Luís F.
author2_role author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Gabriel, Vasco J.
Martins, Luís F.
dc.subject.por.fl_str_mv Cost channel
Phillips curve
GMM
Generalized empirical likelihood
Weak identification
topic Cost channel
Phillips curve
GMM
Generalized empirical likelihood
Weak identification
description We re-examine the empirical relevance of the cost channel of monetary policy (e.g. Ravenna and Walsh, 2006), employing recently developed moment-conditions inference methods, including identification-robust procedures. Using US data, our results suggest that the cost channel effect is poorly identified and we are thus unable to corroborate the previous results in the literature.
publishDate 2010
dc.date.none.fl_str_mv 2010
2010-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/1822/11657
url http://hdl.handle.net/1822/11657
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv “NIPE Working Paper”. 30 (2010) 1-12.
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
_version_ 1833595832429969408

Similar Items