The price puzzle: Mixing the temporary and permanent monetary policy shocks
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Hanson, Michael S., 2004. "The "price puzzle" reconsidered," Journal of Monetary Economics, Elsevier, vol. 51(7), pages 1385-1413, October.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- repec:zbw:bofrdp:2009_020 is not listed on IDEAS
- Efrem Castelnuovo, 2013.
"What does a Monetary Policy Shock Do? An International Analysis with Multiple Filters,"
Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 75(5), pages 759-784, October.
- Efrem Castelnuovo, 2012. "What does a monetary policy shock do? An international analysis with multiple filters," "Marco Fanno" Working Papers 0145, Dipartimento di Scienze Economiche "Marco Fanno".
- Rosmy Jean Louis & Mohamed Osman & Faruk Balli, 2010.
"Is the US Dollar a Suitable Anchor for the Newly Proposed GCC Currency?,"
The World Economy, Wiley Blackwell, vol. 33(12), pages 1898-1922, December.
- Jean Louis, Rosmy & Balli, Faruk & Osman, Mohammad, 2009. "Is the US dollar a suitable anchor for the newly proposed GCC currency?," MPRA Paper 34003, University Library of Munich, Germany, revised 2010.
- Michael Berlemann & Julia Freese, 2013.
"Monetary policy and real estate prices: a disaggregated analysis for Switzerland,"
International Economics and Economic Policy, Springer, vol. 10(4), pages 469-490, December.
- Berlemann, Michael & Freese, Julia, 2010. "Monetary policy and real estate prices: A disaggregated analysis for Switzerland," HWWI Research Papers 2-19, Hamburg Institute of International Economics (HWWI).
- Berlemann, Michael & Freese, Julia, 2010. "Monetary Policy and Real Estate Prices: A Disaggregated Analysis for Switzerland," Working Paper 105/2010, Helmut Schmidt University, Hamburg.
- Efrem Castelnuovo, 2012.
"Testing the Structural Interpretation of the Price Puzzle with a Cost-Channel Model,"
Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 74(3), pages 425-452, June.
- Castelnuovo, Efrem, 2009. "Testing the structural interpretation of the price puzzle with a cost channel model," Bank of Finland Research Discussion Papers 20/2009, Bank of Finland.
- Jean Louis, Rosmy & Brown, Ryan & Balli, Faruk, 2011.
"On the feasibility of monetary union: Does it make sense to look for shocks symmetry across countries when none of the countries constitutes an optimum currency area?,"
Economic Modelling, Elsevier, vol. 28(6), pages 2701-2718.
- Jean Louis, Rosmy & Brown, Ryan & Balli, Faruk, 2011. "On the Feasibility of Monetary Union: Does It Make Sense to Look for Shocks Symmetry across Countries When None of the Countries Constitutes an Optimum Currency Area?," MPRA Paper 39942, University Library of Munich, Germany.
- Efrem Castelnuovo, 2012.
"Testing the Structural Interpretation of the Price Puzzle with a Cost-Channel Model,"
Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 74(3), pages 425-452, June.
- Castelnuovo, Efrem, 2009. "Testing the structural interpretation of the price puzzle with a cost channel model," Research Discussion Papers 20/2009, Bank of Finland.
- Qureshi, Irfan, 2015. "What are monetary policy shocks?," The Warwick Economics Research Paper Series (TWERPS) 1086, University of Warwick, Department of Economics.
- Qureshi, Irfan, 2015. "What are monetary policy shocks?," Economic Research Papers 270008, University of Warwick - Department of Economics.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Zsolt Darvas, 2013.
"Monetary transmission in three central European economies: evidence from time-varying coefficient vector autoregressions,"
Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 40(2), pages 363-390, May.
- Zsolt Darvas, 2009. "Monetary Transmission in Three Central European Economies: Evidence from Time-Varying Coefficient Vector Autoregressions," CERS-IE WORKING PAPERS 0913, Institute of Economics, Centre for Economic and Regional Studies.
- Zsolt Darvas, 2012. "Monetary transmission in three central European economies- evidence from time-varying coefficient vector autoregressions," Bruegel Working Papers 722, Bruegel.
- Zsolt Darvas, 2009. "Monetary Transmission in three Central European Economies: Evidence from Time-Varying Coefficient Vector Autoregressions," Working Papers 0903, Department of Mathematical Economics and Economic Analysis, Corvinus University of Budapest, revised 30 Apr 2012.
- Zsolt Darvas, 2012. "Monetary transmission in three central European economies: evidence from time-varying coefficient vector autoregressions," CERS-IE WORKING PAPERS 1219, Institute of Economics, Centre for Economic and Regional Studies.
- Carlstrom, Charles T. & Fuerst, Timothy S. & Paustian, Matthias, 2009. "Monetary policy shocks, Choleski identification, and DNK models," Journal of Monetary Economics, Elsevier, vol. 56(7), pages 1014-1021, October.
- repec:hal:wpspec:info:hdl:2441/2525 is not listed on IDEAS
- Jérôme Héricourt & Iuliana Matei, 2007.
"Transmission de la politique monétaire dans les pays d'E urope centrale et orientale : que savons-nous vraiment ?,"
Economie & Prévision, La Documentation Française, vol. 0(4), pages 221-238.
- Iuliana Matei & Jérôme Héricourt, 2007. "Transmission de la politique monétaire dans les Pays d'Europe Centrale et Orientale : que savons-nous vraiment ?," Économie et Prévision, Programme National Persée, vol. 180(4), pages 221-238.
- Jérôme Héricourt & Iuliana Matei, 2007. "Transmission de la politique monétaire dans les pays d'Europe Centrale et Orientale : que savons-nous vraiment ?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00515124, HAL.
- Jérôme Héricourt & Iuliana Matei, 2007. "Transmission de la politique monétaire dans les pays d'Europe Centrale et Orientale : que savons-nous vraiment ?," Post-Print halshs-00515124, HAL.
- Pär Stockhammar & Pär Österholm, 2018.
"Do inflation expectations granger cause inflation?,"
Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 35(2), pages 403-431, August.
- Stockhammar, Pär & Österholm, Pär, 2016. "Do Inflation Expectations Granger Cause Inflation?," Working Papers 145, National Institute of Economic Research.
- Stockhammar, Pär & Österholm, Pär, 2016. "Do Inflation Expectations Granger Cause Inflation?," Working Papers 2016:4, Örebro University, School of Business.
- Estrella, Arturo, 2015. "The Price Puzzle And Var Identification," Macroeconomic Dynamics, Cambridge University Press, vol. 19(8), pages 1880-1887, December.
- Ravn, Morten O. & Schmitt-Grohe, Stephanie & Uribe, Martín & Uuskula, Lenno, 2010.
"Deep habits and the dynamic effects of monetary policy shocks,"
Journal of the Japanese and International Economies, Elsevier, vol. 24(2), pages 236-258, June.
- Morten O. Ravn & Stephanie Schmitt-Grohė & Martín Uribe & Lenno Uusküla, 2010. "Deep Habits and the Dynamic Effects of Monetary Policy Shocks," NBER Chapters, in: Sticky Prices and Inflation Dynamics (NBER-TCER-CEPR), pages 236-258, National Bureau of Economic Research, Inc.
- Morten O. Ravn & Stephanie Schmitt-Grohe & Martín Uribe & Lenno Uuskula, 2008. "Deep Habits and the Dynamic Effects of Monetary Policy Shocks," Economics Working Papers ECO2008/40, European University Institute.
- Ravn, Morten & Uribe, MartÃn & Schmitt-Grohé, Stephanie & Uusküla, Lenno, 2009. "Deep Habits and the Dynamic Effects of Monetary Policy Shocks," CEPR Discussion Papers 7128, C.E.P.R. Discussion Papers.
- Marek Rusnak & Tomas Havranek & Roman Horvath, 2013.
"How to Solve the Price Puzzle? A Meta-Analysis,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(1), pages 37-70, February.
- Marek Rusnak & Tomas Havranek & Roman Horvath, 2013. "How to Solve the Price Puzzle? A Meta‐Analysis," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(1), pages 37-70, February.
- Marek Rusnák & Tomáš Havránek & Roman Horváth, 2011. "How to Solve the Price Puzzle? A Meta-Analysis," Working Papers IES 2011/24, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2011.
- Marek Rusnak & Tomas Havranek & Roman Horvath, 2011. "How to Solve the Price Puzzle? A Meta-Analysis," CERGE-EI Working Papers wp446, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
- Marek Rusnak & Tomas Havranek & Roman Horvath, 2011. "How to Solve the Price Puzzle? A Meta-Analysis," Working Papers 2011/02, Czech National Bank.
- Ronald H. Lange, 2013. "Monetary policy reactions and the exchange rate: a regime-switching structural VAR for Canada," International Review of Applied Economics, Taylor & Francis Journals, vol. 27(5), pages 612-632, September.
- Firmin Doko Tchatoka & Qazi Haque, 2024.
"Revisiting the Macroeconomic Effects of Monetary Policy Shocks,"
The Economic Record, The Economic Society of Australia, vol. 100(329), pages 234-259, June.
- Firmin Doko Tchatoka & Qazi Haque, 2021. "Revisiting the macroeconomic effects of monetary policy shocks," CAMA Working Papers 2021-61, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Firmin Doko Tchatoka & Qazi Haque, 2021. "Revisiting the macroeconomic effects of monetary policy shocks," School of Economics and Public Policy Working Papers 2021-02 Classification-E3, University of Adelaide, School of Economics and Public Policy.
- David Kohn & Fernando Leibovici & Håkon Tretvoll, 2021.
"Trade in Commodities and Business Cycle Volatility,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 13(3), pages 173-208, July.
- Hakon Tretvoll & Fernando Leibovici & David Kohn, 2017. "Trade in Commodities and Emerging Market Business Cycles," 2017 Meeting Papers 743, Society for Economic Dynamics.
- David Kohn & Fernando Leibovici & Håkon Tretvoll, 2018. "Trade in Commodities and Business Cycle Volatility," Working Papers 2018-5, Federal Reserve Bank of St. Louis.
- Edda Claus & Mardi Dungey & Renée Fry, 2008.
"Monetary Policy in Illiquid Markets: Options for a Small Open Economy,"
Open Economies Review, Springer, vol. 19(3), pages 305-336, July.
- Edda Claus & Mardi Dungey & Renee Fry, 2006. "Monetary Policy In Illiquid Markets: Options For A Small Open Economy," CAMA Working Papers 2006-17, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
- Saroj Bhattarai & Jae Won Lee & Woong Yong Park, 2016.
"Policy Regimes, Policy Shifts, and U.S. Business Cycles,"
The Review of Economics and Statistics, MIT Press, vol. 98(5), pages 968-983, December.
- Woong Yong Park & Jae Won Lee & Saroj Bhattarai, 2012. "Policy Regimes, Policy Shifts, and U.S. Business Cycles," 2012 Meeting Papers 287, Society for Economic Dynamics.
- Saroj Bhattarai & Jae Won Lee & Woong Yong Park, 2012. "Policy regimes, policy shifts, and U.S. business cycles," Globalization Institute Working Papers 109, Federal Reserve Bank of Dallas.
- Jan Klacso, 2015. "The Effects of the Euro Area Entrance on the Monetary Transmission Mechanism in Slovakia in Light of the Global Economic Recession," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 65(1), pages 55-83, January.
- Mr. Ananthakrishnan Prasad & Mr. Raphael A Espinoza, 2012. "Monetary Policy Transmission in the GCC Countries," IMF Working Papers 2012/132, International Monetary Fund.
- Jean Louis, Rosmy & Brown, Ryan & Balli, Faruk, 2011.
"On the feasibility of monetary union: Does it make sense to look for shocks symmetry across countries when none of the countries constitutes an optimum currency area?,"
Economic Modelling, Elsevier, vol. 28(6), pages 2701-2718.
- Jean Louis, Rosmy & Brown, Ryan & Balli, Faruk, 2011. "On the Feasibility of Monetary Union: Does It Make Sense to Look for Shocks Symmetry across Countries When None of the Countries Constitutes an Optimum Currency Area?," MPRA Paper 39942, University Library of Munich, Germany.
- Schabert, Andreas, 2001. "Interest Rate Policy and the Price Puzzle in a Quantitative Business Cycle Model," Economics Series 95, Institute for Advanced Studies.
- Rosmy Jean Louis & Faruk Balli & Mohamed Osman, 2012.
"On the choice of an anchor for the GCC currency: does the symmetry of shocks extend to both the oil and the non-oil sectors?,"
International Economics and Economic Policy, Springer, vol. 9(1), pages 83-110, March.
- Jean Louis, Rosmy & Balli, Faruk & Osman, Mohamed, 2010. "On the choice of an anchor for the GCC currency: does the symmetry of shocks extend to both the oil and the non-oil sectors," MPRA Paper 38056, University Library of Munich, Germany.
- Michael Berlemann & Julia Freese, 2013.
"Monetary policy and real estate prices: a disaggregated analysis for Switzerland,"
International Economics and Economic Policy, Springer, vol. 10(4), pages 469-490, December.
- Berlemann, Michael & Freese, Julia, 2010. "Monetary policy and real estate prices: A disaggregated analysis for Switzerland," HWWI Research Papers 2-19, Hamburg Institute of International Economics (HWWI).
- Berlemann, Michael & Freese, Julia, 2010. "Monetary Policy and Real Estate Prices: A Disaggregated Analysis for Switzerland," Working Paper 105/2010, Helmut Schmidt University, Hamburg.
- Tomas Havranek & Marek Rusnak, 2013.
"Transmission Lags of Monetary Policy: A Meta-Analysis,"
International Journal of Central Banking, International Journal of Central Banking, vol. 9(4), pages 39-76, December.
- Tomas Havranek & Marek Rusnak, 2012. "Transmission Lags of Monetary Policy: A Meta-Analysis," William Davidson Institute Working Papers Series wp1038, William Davidson Institute at the University of Michigan.
- Tomas Havranek & Marek Rusnak, 2012. "Transmission Lags of Monetary Policy: A Meta-Analysis," Working Papers 2012/10, Czech National Bank.
- Tomas Havranek & Marek Rusnak, 2012. "Transmission Lags of Monetary Policy: A Meta-Analysis," Working Papers IES 2012/27, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Oct 2012.
- Mr. Christopher W. Crowe & Mr. S. Mahdi Barakchian, 2010. "Monetary Policy Matters: New Evidence Basedon a New Shock Measure," IMF Working Papers 2010/230, International Monetary Fund.
More about this item
Keywords
Monetary policy shocks; VAR modeling; identification; price puzzle;All these keywords.
JEL classification:
- E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CBA-2009-01-03 (Central Banking)
- NEP-MAC-2009-01-03 (Macroeconomics)
- NEP-MON-2009-01-03 (Monetary Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bno:worpap:2008_18. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/nbgovno.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.