MONETARY POLICY TRANSMISSION MECHANISM AND DYNAMIC FACTOR MODELS
The main objective of a Central Bank is price stability, without neglecting, however, a sustainable economic growth in the long run. Therefore, an important challenge is to identify whether the effect of monetary policy has changed over time and for this purpose, a Dynamic Factor Model with time-var...
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| Format: | Article |
| Language: | English |
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Sciendo
2014-12-01
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| Series: | Review of Economic and Business Studies |
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| Online Access: | http://www.rebs.ro/articles/pdfs/218.pdf |