Monetary policy and commodity price shocks
โ Scribed by Silke Tober; Tobias Zimmermann
- Publisher
- Springer-Verlag
- Year
- 2009
- Tongue
- English
- Weight
- 467 KB
- Volume
- 44
- Category
- Article
- ISSN
- 0020-5346
No coin nor oath required. For personal study only.
๐ SIMILAR VOLUMES
## Abstract According to conventional wisdom, the output effects of a monetary policy shock commence within months of the shock, while most inflationary effects lag significantly. We demonstrate a simple model that can explain the conventional wisdom and is consistent with profit maximizing price s
How does an unexpected domestic monetary expansion affect the foreign economy? Does it induce an increase or a decline in foreign production? In the traditional two-country Mundell-Fleming model, monetary policy reveals 'beggarthy-neighbour' effects. Yet, empirical evidence from VARs indicates that
## Abstract We analyse the international transmission of monetary shocks with a focus on the effects of foreign liquidity on the euro area. We estimate two domestic structural VAR models for the euro area and then we introduce a global liquidity aggregate. The impulse responses show that a positive