Reexamination of the effects of monetary policy using spectral decomposition

International evidence on the effects of monetary policy presented by Sims (1992) is reexamined by spectral decompositions as well as by impulse response functions. The results obtained using spectral decompositions suggest that money stock innovations can be regarded as monetary policy shocks, while the results obtained using impulse response functions show little clear evidence.

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Year of publication:	2007
Authors:	Fukuda, Kosei
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 14.2007, 10, p. 769-774
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005435273