Ferreira, Leonardo Nogueira - 2020
, however, forward guidance has also become a central tool for monetary policy. In an innovative way this paper combines two … vector autoregressive (VAR) model to fully disentangle the effects of forward guidance shocks from the effects of … sample, in contrast with the evidence reported by Barakchian and Crowe (2013) and Ramey (2016), and that forward guidance is …