Interpreting money-supply and interest-rate shocks as monetary-policy shocks / by Marcel Kasumovich. : FB3-2/96-8E
In this paper two shocks are analysed using Canadian data: a money-supply shock (M-shock) and an interest-rate shock (R-shock). Money-supply shocks are derived using long-run restrictions based on long-term propositions of monetary theory. Thus, an M-shock is represented by an orthogonalized innovation in the trend shared by money and prices. An R-shock is represented by the orthogonalized innovation in the overnight interest rate.--Abstract
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| Ministère/Organisme | Bank of Canada. |
|---|---|
| Titre | Interpreting money-supply and interest-rate shocks as monetary-policy shocks / by Marcel Kasumovich. |
| Titre de la série | Working paper1192-543496-8 |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Format | Papier |
| Autres formats offerts | Électronique-[Anglais] |
| Note(s) | "In this paper two shocks are analysed using Canadian data: a money-supply shock (M-shock) and an interest-rate shock (R-shock). Money-supply shocks are derived using long-run restrictions based on long-term propositions of monetary theory. Thus, an M-shock is represented by an orthogonalized innovation in the trend shared by money and prices. An R-shock is represented by the orthogonalized innovation in the overnight interest rate."--Abstract. Résumés en français |
| Information sur la publication | Ottawa - Ontario : Bank of Canada 1996. |
| Reliure | Softcover |
| Description | 39p. : figs., references, tables ; 28 cm. |
| ISBN | 0-662-24908-9 |
| ISSN | 1192-5434 |
| Numéro de catalogue |
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| Descripteurs | Fiscal policy |
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