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Nonlinear monetary policy in europe: fact or myth?

Allard Bruinshoofd () and Bertrand Candelon ()

WO Research Memoranda (discontinued) from Netherlands Central Bank, Research Department

Abstract: 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
Date: 2004-03
New Economics Papers: this item is included in nep-cba and nep-eec
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Citations: View citations in EconPapers (4) Track citations by RSS feed

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