The cost channel reconsidered: A comment using an identification-robust approach
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Gabriel, VJ and Martins, LF (2010) The cost channel reconsidered: A comment using an identification-robust approach Journal of Money, Credit and Banking, 42 (8). 1703 - 1712. ISSN 0022-2879
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Official URL: http://dx.doi.org/10.1111/j.1538-4616.2010.00361.x
Abstract
We re-examine the empirical relevance of the cost channel of monetary policy (e.g. Ravenna andWalsh, 2006), employing recently developed moment-conditions inference meth- ods, including identi cation-robust procedures. Using US data, our results suggest that the cost channel e¤ect is poorly identi ed and we are thus unable to corroborate the previous results in the literature.
| Item Type: | Article |
|---|---|
| Additional Information: | The definitive version is available at <a href="http://onlinelibrary.wiley.com/doi/10.1111/j.1538-4616.2010.00361.x/abstract;jsessionid=B5E83BFC17B5B998D315429EDAFED69E.d02t01</a>. |
| Divisions: | Faculty of Business, Economics and Law > Economics |
| ID Code: | 436679 |
| Deposited By: | Symplectic Elements |
| Deposited On: | 16 Jul 2012 10:16 |
| Last Modified: | 28 Feb 2013 02:34 |
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