The evidence suggests that monetary policy post 1988 became more forward-looking, invalidating the identifying assumptions in conventional methods of measuring monetary policy's effects, leading to spurious and unlikely results for this period. We propose a new identification scheme that uses...

This paper estimates a two-country model comprising structural cointegrated models of Canada and the US. Using persistence profile analysis, we find that the Term Structure and a modified Fisher equation are maintained in the US model, and, the Term Structure, Fisher equation and Interest Rate...