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Interpreting the macroeconomic time series facts
Open accessAbstract
Existing theory and evidence on the effects of monetary policy are reviewed. Substantial room for disagreement among economists remains. New evidence, based on multivariate time series studies of several countries, is presented. While certain patterns in the data consistent with effective monetary policy are strikingly similar across countries, others, particularly the tendency of interest rate increases to predict high inflation, are harder to reconcile with effective monetary policy.
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Citations
Cited by
Estimation and Inference of Impulse Responses by Local Projections
Jordà, Ò. (2005) · American Economic Review · doi:10.1257/0002828053828518 · Cited by 4,677
Inside the black box: the credit channel of monetary policy transmission
Bernanke, B. S., & Gertler, M. (1995) · Journal of Economic Perspectives · doi:10.1257/jep.9.4.27 · Cited by 4,211
What are the effects of monetary policy on output? Results from an agnostic identification procedure
Uhlig, H. (2005) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2004.05.007 · Cited by 2,307
Measuring the macroeconomic impact of monetary policy at the zero lower bound
WU, J. C., & XIA, F. D. (2016) · Journal of Money, Credit and Banking · doi:10.1111/jmcb.12300 · Cited by 1,842
Bernanke, B. S., & Mihov, I. (1998) · The Quarterly Journal of Economics · doi:10.1162/003355398555775 · Cited by 1,641
Metadata
- Authors
- Sims, C. A.
- Venue
- European Economic Review
- Publisher
- Elsevier BV
- Published
- 1992-06
- Volume
- 36
- Issue
- 5
- Pages
- 975-1000
- ISSN
- 0014-2921 (ISSN-L)
- OpenAlex
- W1587744912
- Cited by
- 1,855
- References
- 0
- FWCI
- 30.39
- Type
- journal article
- Language
- en
- Open access
- hybrid
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- Sims, C. A. (1992). Interpreting the macroeconomic time series facts. European Economic Review. https://doi.org/10.1016/0014-2921(92)90041-t
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
