The Cost Channel Reconsidered: A Comment Using an Identification-Robust Approach

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 identiÂ…cation-robust procedures. Using US data, our results suggest that the cost channel effect is poorly identiÂ…ed and we are thus unable to corroborate the previous results in the literature

MoreLess

Year of publication:	2010-09
Authors:	Gabriel, Vasco ; Martins, Luis
Institutions:	School of Economics, University of Surrey
Subject:	Cost channel \| Phillips curve \| GMM \| Generalized Empirical Likelihood \| Weak IdentiÂ…cation

More details

Extent:	application/pdf
Series:	School of Economics Discussion Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 1010 13 pages
Classification:	C22 - Time-Series Models ; E31 - Price Level; Inflation; Deflation ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008805593