The Resource The cost channel of monetary policy : further evidence for the United States and the euro area, Pau Rabanal

The cost channel of monetary policy : further evidence for the United States and the euro area, Pau Rabanal

Label
The cost channel of monetary policy : further evidence for the United States and the euro area
Title
The cost channel of monetary policy
Title remainder
further evidence for the United States and the euro area
Statement of responsibility
Pau Rabanal
Creator
Contributor
Author
Subject
Language
eng
Summary
This paper estimates the importance of the cost channel of monetary policy in a New Keynesian model of the business cycle. A model with nominal rigidities is extended by assuming that a fraction of firms need to borrow money to pay their wage bill. Hence, monetary policy tightenings increase effective unit labor costs of production, and might imply an increase in inflation. The model explains the joint dynamics of output, inflation, real wages, and interest rates, and is estimated using a Bayesian framework and data for the United States and the euro area. The main result is that cost channel effects are absent in both cases. Moreover, it is not possible to obtain a "price puzzle" type of behavior from estimated impulse responses to monetary policy shocks
Member of
Action
digitized
Cataloging source
OCLCE
Dewey number
332.46
Illustrations
illustrations
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 no.03/149
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
Series statement
IMF working paper
Series volume
WP/03/149
Label
The cost channel of monetary policy : further evidence for the United States and the euro area, Pau Rabanal
Publication
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (pages 32-34)
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Control code
ocn646901699
Dimensions
unknown
Extent
1 online resource (34 pages)
File format
one file format
Form of item
online
Isbn
9781451902013
Media category
computer
Media MARC source
rdamedia
Media type code
c
Other physical details
illustrations
http://library.link/vocab/recordID
.b37169701
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • (OCoLC)646901699
  • imf1451902018
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
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