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 identification-robust procedures. Using US data, our results suggest that the cost channel effect is poorly identif...

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Bibliographic Details
Main Author: Gabriel, Vasco J. (author)
Other Authors: Martins, Luís F. (author)
Format: workingPaper
Language:eng
Published: 2010
Subjects:
Cost channel
Phillips curve
GMM
Generalized empirical likelihood
Weak identification
Online Access:http://hdl.handle.net/1822/11657
Country:Portugal
Oai:oai:repositorium.sdum.uminho.pt:1822/11657

Internet

http://hdl.handle.net/1822/11657

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