Changing Macroeconomic Dynamics at the Zero Lower Bound
This article develops a change-point VAR model that isolates four major macroeconomic regimes in the US since the 1960s. The model identifies shocks to demand, supply, monetary policy, and spread yield using restrictions from a general equilibrium model. The analysis discloses important changes to t...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
American Statistical Association
2019
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| Subjects: | |
| Online Access: | View Fulltext in Publisher |