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The Cost Channel Reconsidered: A Comment Using an Identification-Robust Approach

Vasco Gabriel and Luis Martins

No 1010, School of Economics Discussion Papers from School of Economics, University of Surrey

Abstract: 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 identi cation-robust procedures. Using US data, our results suggest that the cost channel effect is poorly identi ed and we are thus unable to corroborate the previous results in the literature

Keywords: Cost channel; Phillips curve; GMM; Generalized Empirical Likelihood; Weak Identi cation (search for similar items in EconPapers)
JEL-codes: C22 E31 E32 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2010-09
New Economics Papers: this item is included in nep-cba and nep-mon
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Citations: View citations in EconPapers (5)

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Related works:
Journal Article: The Cost Channel Reconsidered: A Comment Using an Identification-Robust Approach (2010)
Journal Article: The Cost Channel Reconsidered: A Comment Using an Identification‐Robust Approach (2010) Downloads
Working Paper: The cost channel reconsidered: a comment using an identification-robust approach (2010) Downloads
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