Nonlinear monetary policy in europe: fact or myth?
Allard Bruinshoofd () and
Bertrand Candelon ()
WO Research Memoranda (discontinued) from Netherlands Central Bank, Research Department
We hold the fort for linear specification of monetary policy and economic activity in Europe. Using data on the last two and a half decades we cannot reject the hypothesis that monetary policy is a linear process and we find mixed results regarding economic activity.
Keywords: Time series model specification; Linearity tests; Nonlinear models (search for similar items in EconPapers)
JEL-codes: C51 (search for similar items in EconPapers)
Pages: 14 pages
New Economics Papers: this item is included in nep-cba and nep-eec
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Journal Article: Nonlinear monetary policy in Europe: fact or myth? (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:dnb:wormem:758
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