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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| Formato: | workingPaper |
| Idioma: | eng |
| Publicado em: |
2010
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| Texto completo: | http://hdl.handle.net/1822/11657 |
| País: | Portugal |
| Oai: | oai:repositorium.sdum.uminho.pt:1822/11657 |