Following Germany's Lead : Using International Monetary Linkages to Identify the Effect of Monetary Policy on the Economy.
Forward-looking behavior on the part of the monetary authority leads least squares estimates to understate the true growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest rates on real output growth for several European countries,...
| Erakunde egilea: | |
|---|---|
| Formatua: | Aldizkaria |
| Hizkuntza: | English |
| Argitaratua: |
Washington, D.C. :
International Monetary Fund,
2005.
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| Saila: | IMF Working Papers; Working Paper ;
No. 2005/086 |
| Sarrera elektronikoa: | Full text available on IMF |