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The cost channel reconsidered: A comment using an identification-robust approach

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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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
Depositing User: Symplectic Elements
Date Deposited: 16 Jul 2012 09:16
Last Modified: 18 Sep 2014 01:45
URI: http://epubs.surrey.ac.uk/id/eprint/436679

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