Changes in monetary policy effectiveness: evidence from large macroeconomic models

This article evaluates changes in the aggregate effectiveness of monetary policy and changes in monetary policy transmission mechanisms by examining how traditional large-scale macroeconometric models have evolved in the last ten to fifteen years. The article analyzes shifts in model structure and sheds some light on the changing relationship between policy and the real economy by reporting simulations that use different historical versions of the models.

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Year of publication:	1992
Authors:	Mosser, Patricia C.
Published in:	Quarterly Review. - Federal Reserve Bank of New York. - 1992, Spr, v. 17, no. 1, p. 36-51
Publisher:	Federal Reserve Bank of New York
Subject:	Econometric models \| Monetary policy \| Macroeconomics

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008456488