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Asymmetric monetary policy and the yield curve

✍ Scribed by Vineer Bhansali; Matthew P. Dorsten; Mark B. Wise

Book ID
116659017
Publisher
Elsevier Science
Year
2009
Tongue
English
Weight
391 KB
Volume
28
Category
Article
ISSN
0261-5606

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## Abstract Monetary policy, the yield curve and the private sector behaviour of the US economy are modelled as a time‐varying structural vector autoregression. The monetary policy shocks of the early 1980s explain a large portion of the persistence of inflation and the level of the term structure.