Money and Interest Rate Shocks: Some International Evidence
AbstractThe effects of monetary policy are transmitted to the economy through changes in money and/or changes in interest rates. Most of the recent studies based on VAR indicate the existence of "monetary puzzles" in their empirical results. A puzzle exists when the effects of monetary policy on macroeconomic variables are inconsistent with the prediction of economic theory. It is generally believed that puzzles are due to poorly identified monetary policy shocks. This study, in the context of data on Australia, Canada and the United States, attempts to compare the effects of monetary policy shocks with and without a properly identified policy shock.
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Bibliographic InfoPaper provided by New South Wales - School of Economics in its series Papers with number 99/10.
Length: 13 pages
Date of creation: 1999
Date of revision:
Contact details of provider:
Postal: THE UNIVERSITY OF NEW SOUTH WALES, SCHOOL OF ECONOMICS, P.O.B. 1 KENSINGTON, NEW SOUTH WALES 2033 AUSTRALIA.
Fax: +61)-2- 9313- 6337
Web page: http://www.economics.unsw.edu.au/
More information through EDIRC
MONEY ; INTEREST RATE ; BUSINESS CYCLES ; MONETARY POLICY;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
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