کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5098642 1376950 2013 18 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Monetary regime change and business cycles
ترجمه فارسی عنوان
تغییر رژیم و چرخه کسب و کار
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات کنترل و بهینه سازی
چکیده انگلیسی
This paper proposes a method to structurally estimate a model with a regime shift and evaluates the importance of acknowledging the break in the estimation. We estimate a DSGE model on Swedish data taking into account the regime change in 1993, from exchange rate targeting to inflation targeting. Ignoring the break leads to spurious estimates. Accounting for the break suggests that monetary policy reacted strongly to exchange rate movements in the first regime, and mostly to inflation in the second. The sources of business cycles and their transmission mechanism are significantly affected by the exchange rate regime.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Dynamics and Control - Volume 37, Issue 4, April 2013, Pages 756-773
نویسندگان
, ,