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Does Monetary Policy Matter? Narrative Versus Structural Approaches.

Author: Ray C Fair; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 1989.
Series: Working paper series (National Bureau of Economic Research), no. w3045.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
Abstract: This paper compares results from the narrative approach of Romer and Romer.

Abstract: (1989) to those from the structural approach regarding the effects of monetary.

Abstract: policy on real output. The results from both approaches lead to the.

Abstract: conclusions that monetary policy matters and that the effects build slowly.

Abstract: following a monetary policy shock. The narrative approach, however, leads to.

Abstract: larger and more persistent effects than does the structural approach. Reasons.

Abstract: are advanced in the paper as to why this might be so.  Read more...

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Additional Physical Format: Print version:
Fair, Ray C.
Does monetary policy matter?
Cambridge, MA (1050 Massachusetts Avenue, Cambridge, MA 02138) : National Bureau of Economic Research, [1989?]
(OCoLC)20234701
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Ray C Fair; National Bureau of Economic Research.
OCLC Number: 769228922
Notes: Hardcopy version available to institutional subscribers.
July 1989.
Description: 1 online resource.
Series Title: Working paper series (National Bureau of Economic Research), no. w3045.

Abstract:

Abstract: This paper compares results from the narrative approach of Romer and Romer.

Abstract: (1989) to those from the structural approach regarding the effects of monetary.

Abstract: policy on real output. The results from both approaches lead to the.

Abstract: conclusions that monetary policy matters and that the effects build slowly.

Abstract: following a monetary policy shock. The narrative approach, however, leads to.

Abstract: larger and more persistent effects than does the structural approach. Reasons.

Abstract: are advanced in the paper as to why this might be so.

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