Money and Interest Rate Shocks: Some International Evidence
M.S. Monadjemi and
Working Papers from New South Wales - School of Economics
The effects of monetary policy are transmitted to the economy through changes in money and/or changes in interest rates. Most of the recent studies based on VAR indicate the existence of "monetary puzzles" in their empirical results. A puzzle exists when the effects of monetary policy on macroeconomic variables are inconsistent with the prediction of economic theory. It is generally believed that puzzles are due to poorly identified monetary policy shocks. This study, in the context of data on Australia, Canada and the United States, attempts to compare the effects of monetary policy shocks with and without a properly identified policy shock.
Keywords: MONEY; INTEREST RATE; BUSINESS CYCLES; MONETARY POLICY (search for similar items in EconPapers)
JEL-codes: E32 E42 E43 E52 (search for similar items in EconPapers)
Pages: 13 pages
References: Add references at CitEc
Citations: Track citations by RSS feed
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:fth:nesowa:99/10
Access Statistics for this paper
More papers in Working Papers from New South Wales - School of Economics THE UNIVERSITY OF NEW SOUTH WALES, SCHOOL OF ECONOMICS, P.O.B. 1 KENSINGTON, NEW SOUTH WALES 2033 AUSTRALIA.. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Krichel ().