Year: 2004
Type: article
Abstract: Using M1, the authors achieve results that match previous findings on the size and sign of monetary policy shocks: Positive shocks have larger real effects. Using the federal funds rate, however, they find that only small negative shocks affect real aggregate activity.
DOI: 10.20955/r.86.41
Authors: Morten O. Ravn, Martin Sola
Institutions: University of London, Universitat Pompeu Fabra, Aarhus University, Universidad Torcuato Di Tella, University of Warwick, Centre for Economic Policy Research, Bank of England, Federal Reserve Bank of St. Louis, London School of Economics and Political Science, Birkbeck, University of London
Language: English
Domain: Social Sciences
Open Access status: gold
OpenAlex ID: W1575279642