Blar i Norges Banks vitenarkiv på emneord "SVAR"
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How Does Monetary Policy Respond to Exchange Rate Movements? New International Evidence
(Working Papers;15/2008, Working paper, 2008)This paper analyzes how monetary policy responds to exchange rate movements in open economies, paying particular attention to the two-way interaction between monetary policy and exchange rate movements. We address this ... -
Identifying the sources of the slowdown in growth: Demand vs. supply
(Working Paper;9/2021, Working paper, 2021)Long-run GDP growth has declined in the United States over the past two decades. Two competing views take the stage in accounting for this slowdown: demand-side and supply-side. I empirically quantify their relative ... -
The impact of financial shocks on the forecast distribution of output and inflation
(Working paper;3/2023, Working paper, 2023)Financial shocks represent a major driver of fluctuations in tail risk, defined as the 5th percentile of the forecast distributions of output and inflation. Since the variance and the asymmetry of the forecast distributions ... -
Nonlinear transmission of financial shocks: Some new evidence
(Working paper;3/2022, Working paper, 2022)Financial shocks generate a protracted and quantitatively important effect on real economic activity and financial markets only if the shocks are both negative and large. Otherwise, their role is quite modest. Financial ... -
Underidentified SVAR Models: A Framework for Combining Short and Long-Run Restrictions with Sign-Restrictions
(Working Papers;14/2013, Working paper, 2013)I describe a new method for imposing zero restrictions (both short and long-run) in combination with conventional sign-restrictions. In particular I extend the Rubio-Ramirez et al. (2010) algorithm for applying short and ...