Chowdhury, Ibrahim; Hoffmann, Mathias; Schabert, Andreas - Institut für Finanzmarktforschung, Wirtschafts- und … - 2004
Evidence from vector autoregressions indicates that the impact of interest rate shocks on macroeconomic aggregates can substantially be affected by the so-called cost channel of monetary transmission. In this paper we apply a structural approach to examine the relevance of the cost channel for...
