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What determines the sacrifice ratio? A quantile regression approach

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Author Info

  • Thanaset Chevapatrakul

    ()
    (Nottingham University Business School)

  • Juan Paez-farrell

    ()
    (Loughborough University)

Abstract

This paper investigates the determinants of the sacrifice ratio in the OECD economies using a quantile regression framework. We show that the relationship is characterised by asymmetries that standard approaches are unable to capture.

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File URL: http://www.accessecon.com/Pubs/EB/2013/Volume33/EB-13-V33-I3-P175.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 33 (2013)
Issue (Month): 3 ()
Pages: 1863-1874

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Handle: RePEc:ebl:ecbull:eb-13-00462

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Related research

Keywords: Sacrifice ratio; quantile regression; OECD; asymmetries;

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References

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  1. Mazumder, Sandeep, 2012. "Determinants of the Sacrifice Ratio: Evidence from OECD and non-OECD countries," Working Papers 106, Wake Forest University, Economics Department.
  2. Carlos Eduardo S. Gonçalves & Alexandre Carvalho, 2009. "Inflation Targeting Matters: Evidence from OECD Economies' Sacrifice Ratios," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(1), pages 233-243, 02.
  3. Crowe, Christopher & Meade, Ellen E., 2008. "Central bank independence and transparency: Evolution and effectiveness," European Journal of Political Economy, Elsevier, vol. 24(4), pages 763-777, December.
  4. Ricardo D. Brito, 2010. "Inflation Targeting Does Not Matter: Another Look at OECD Sacrifice Ratios," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(8), pages 1679-1688, December.
  5. Andreas Fischer, 1996. "Central bank independence and sacrifice ratios," Open Economies Review, Springer, vol. 7(1), pages 5-18, January.
  6. Chortareas, Georgios & Stasavage, David & Sterne, Gabriel, 2002. "Monetary Policy Transparency, Inflation and the Sacrifice Ratio," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 7(2), pages 141-55, April.
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