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On the Quantitative Effects of Unconventional Monetary Policies

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  • Javier García-Cicco

Abstract

I use a unique micro price data to estimate the pass-through from commodity prices to retail prices in several countries. The paper presents and develops a simple methodology to estimate the pass-through from the prices of different commodities into various sectors across several countries. This is the first exercise of this type. As expected, countries respond differently to the different shocks; and sectors respond differently across countries and commodities. A third of all the explained variation is driven by sectoral characteristics, which is a dimension mostly disregarded by the literature.

Suggested Citation

  • Javier García-Cicco, 2010. "On the Quantitative Effects of Unconventional Monetary Policies," Working Papers Central Bank of Chile 573, Central Bank of Chile.
    • Handle: RePEc:chb:bcchwp:573
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    File URL: https://www.bcentral.cl/documents/33528/133326/DTBC_573.pdf
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    References listed on IDEAS

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    Cited by:

    1. Kotaro Ishi & Mr. Kenji Fujita & Mr. Mark R. Stone, 2011. "Should Unconventional Balance Sheet Policies Be Added to the Central Bank toolkit? a Review of the Experience so Far," IMF Working Papers 2011/145, International Monetary Fund.
    2. Egor S. Malkov, 2014. "The Effects Of Robo-Signing On The Economy And Unconventional Monetary Policy," HSE Working papers WP BRP 65/EC/2014, National Research University Higher School of Economics.

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