Monetary Policy and the Relative Price of Durable Goods /
In a SVAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new-house and nondurables prices. These findings are rationalized via the estimation of a two-se...
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| Natura: | Periodico |
| Lingua: | English |
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Washington, D.C. :
International Monetary Fund,
2017.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2017/290 |
| Accesso online: | Full text available on IMF |