Working paper
The effect of news shocks and monetary policy
- Abstract:
-
A VAR model estimated on U.S. data before and after 1980 documents systematic differences in the response of short- and long-term interest rates, corporate bond spreads and durable spending to news TFP shocks. Interest rates across the maturity spectrum broadly increase in the pre-1980s and broadly decline in the post-1980s. Corporate bond spreads decline significantly, and durable spending rises significantly in the post-1980 period while the opposite short-run response is observed in the pr...
Expand abstract
- Publication status:
- Published
Actions
Authors
Bibliographic Details
- Publisher:
- University of Oxford Publisher's website
- Series:
- Department of Economics Discussion Paper Series
- Publication date:
- 2017-09-27
- Paper number:
- 838
Item Description
- Keywords:
- Pubs id:
-
997920
- Local pid:
- pubs:997920
- Deposit date:
- 2020-12-14
Terms of use
- Copyright date:
- 2017
- Rights statement:
- Copyright 2017 The Author(s)
Metrics
If you are the owner of this record, you can report an update to it here: Report update to this record