Economic uncertainty and the influence of monetary policy
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Cites background or result from "Economic uncertainty and the influe..."
...Aastveit et al. (2017) quantify the real effects of monetary policy shocks in presence of high/low uncertainty....
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...Aastveit et al. (2017) quantify the real effects of monetary policy shocks in presence of high/low uncertainty. With respect to these studies, our paper: (i) focuses on uncertainty shocks, and (ii) fully endogenizes the conditioning variable which determines the switch between the states of interest. From a technical standpoint, our paper is close to Pellegrino (2017a) . He studies the real effects of monetary policy shocks in the United States in presence of time-varying uncertainty by computing fully nonlinear GIRFs that admit switches between states after a shock (in his case, a monetary policy shock). A similar paper is Pellegrino (2017b) , who investigates the same research question with Euro area data....
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Cites background from "Economic uncertainty and the influe..."
...…(1999), Mumtaz and Surico (2015), and Tenreyro and Thwaites (2016) - or in presence of high/low uncertainty, as Eickmeier, Metiu, and Prieto (2016), Aastveit, Natvik, and Sola (2017), Pellegrino that such measure of financial uncertainty predicts future movements in the US business cycle even when…...
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