Changing macroeconomic dynamics at the zero lower bound
This paper develops a change-point VAR model that isolates four major macroeconomic regimes in the US since the 1960s. The model identi es shocks to demand, supply, monetarypolicy, and spread yield using restrictions from a general equilibrium model. The analysis discloses important changes to the s...
| Glavni autori: | , , , |
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| Format: | Working paper |
| Izdano: |
University of Oxford
2017
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