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The Responses of Prices at Different Stages of Production to Monetary Policy Shocks

✍ Scribed by Clark, Todd E.


Book ID
111963232
Publisher
MIT Press
Year
1999
Tongue
English
Weight
199 KB
Volume
81
Category
Article
ISSN
0034-6535

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Responses to monetary policy shocks in t
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## Abstract This paper compares impulse responses to monetary policy shocks in the euro area countries before the EMU and in the New Member States (NMS) from central–eastern Europe. We mitigate the small‐sample problem, which is especially acute for the NMS, by using a Bayesian estimation that comb