Vintage article: the effect of monetary policy shocks in the United Kingdom: an external instruments approach
This paper uses VAR analysis to identify monetary policy shocks on U.K. data using surprise changes in the policy rate as external instruments and imposing block exogeneity restrictions on domestic variables to estimate parameters from the viewpoint of the domestic economy. The results show large an...
| Main Authors: | , , , |
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| Format: | Working paper |
| Published: |
University of Oxford
2020
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