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

Fabio Canova () and Filippo Ferroni ()

No 471, Working Papers from Barcelona Graduate 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: E52 E47 C53 (search for similar items in EconPapers)
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Journal Article: The dynamics of US inflation: Can monetary policy explain the changes? (2012) Downloads
Working Paper: The dynamics of US inflation: Can monetary policy explain the changes? (2010) Downloads
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