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...
| Автори: | , , , |
|---|---|
| Формат: | Working paper |
| Опубліковано: |
University of Oxford
2017
|