The Dynamics of US Inflation: Can Monetary Policy Explain the Changes?

Fabio Canova and Filippo Ferroni

No 471, Working Papers from Barcelona School of Economics

Abstract: We investigate the relationship between monetary policy and inflation dynamics in the US using a medium scale structural model. The specification is estimated with Bayesian techniques and fits the data reasonably well. Policy shocks account for a part of the decline in inflation volatility

Keywords: New Keynesian model; Bayesian methods; monetary policy; Inflation dynamics (search for similar items in EconPapers)
JEL-codes: C53 E47 E52 (search for similar items in EconPapers)
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Citations: View citations in EconPapers (30)

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Related works:
Journal Article: The dynamics of US inflation: Can monetary policy explain the changes? (2012)
Working Paper: The dynamics of US inflation: Can monetary policy explain the changes? (2010)
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