New evidence on the puzzles : Results from agnostic identification on monetary policy and exchange rates
Dateien
Datum
Autor:innen
Herausgeber:innen
ISSN der Zeitschrift
Electronic ISSN
ISBN
Bibliografische Daten
Verlag
Schriftenreihe
Auflagebezeichnung
URI (zitierfähiger Link)
DOI (zitierfähiger Link)
Internationale Patentnummer
Link zur Lizenz
Angaben zur Forschungsförderung
Projekt
Open Access-Veröffentlichung
Sammlungen
Core Facility der Universität Konstanz
Titel in einer weiteren Sprache
Publikationstyp
Publikationsstatus
Erschienen in
Zusammenfassung
Past empirical research on monetary policy in open economies has found evidence of the delayed overshooting puzzle and the forward discount puzzle . We revisit the effects of monetary policy on exchange rates by applying Uhlig's [Uhlig, H., 2005a. What are the effects of monetary policy on output? Results from an agnostic identification procedure. Journal of Monetary Economics 52(2), 381 419.] identification procedure that involves sign restrictions on the impulse responses of selected variables. In a first step, we leave the response of the exchange rate agnostically open and find sizeable evidence for both puzzles. In a second step, we additionally rule out the delayed overshooting by construction. Our results indicate that the forward discount puzzle is robust even without delayed overshooting.
Zusammenfassung in einer weiteren Sprache
Fachgebiet (DDC)
Schlagwörter
Konferenz
Rezension
Zitieren
ISO 690
SCHOLL, Almuth, Harald UHLIG, 2008. New evidence on the puzzles : Results from agnostic identification on monetary policy and exchange rates. In: Journal of International Economics. 2008, 76(1), pp. 1-13. Available under: doi: 10.1016/j.jinteco.2008.02.005BibTex
@article{Scholl2008evide-11982, year={2008}, doi={10.1016/j.jinteco.2008.02.005}, title={New evidence on the puzzles : Results from agnostic identification on monetary policy and exchange rates}, number={1}, volume={76}, journal={Journal of International Economics}, pages={1--13}, author={Scholl, Almuth and Uhlig, Harald} }
RDF
<rdf:RDF xmlns:dcterms="http://purl.org/dc/terms/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:bibo="http://purl.org/ontology/bibo/" xmlns:dspace="http://digital-repositories.org/ontologies/dspace/0.1.0#" xmlns:foaf="http://xmlns.com/foaf/0.1/" xmlns:void="http://rdfs.org/ns/void#" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" > <rdf:Description rdf:about="https://kops.uni-konstanz.de/server/rdf/resource/123456789/11982"> <dc:language>eng</dc:language> <dc:creator>Uhlig, Harald</dc:creator> <dcterms:hasPart rdf:resource="https://kops.uni-konstanz.de/bitstream/123456789/11982/1/scholl_uhlig_JIE.pdf"/> <dc:contributor>Scholl, Almuth</dc:contributor> <dc:contributor>Uhlig, Harald</dc:contributor> <dcterms:issued>2008</dcterms:issued> <dcterms:available rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:41:32Z</dcterms:available> <dcterms:abstract xml:lang="eng">Past empirical research on monetary policy in open economies has found evidence of the delayed overshooting puzzle and the forward discount puzzle . We revisit the effects of monetary policy on exchange rates by applying Uhlig's [Uhlig, H., 2005a. What are the effects of monetary policy on output? Results from an agnostic identification procedure. Journal of Monetary Economics 52(2), 381 419.] identification procedure that involves sign restrictions on the impulse responses of selected variables. In a first step, we leave the response of the exchange rate agnostically open and find sizeable evidence for both puzzles. In a second step, we additionally rule out the delayed overshooting by construction. Our results indicate that the forward discount puzzle is robust even without delayed overshooting.</dcterms:abstract> <dc:date rdf:datatype="http://www.w3.org/2001/XMLSchema#dateTime">2011-03-25T09:41:32Z</dc:date> <dspace:hasBitstream rdf:resource="https://kops.uni-konstanz.de/bitstream/123456789/11982/1/scholl_uhlig_JIE.pdf"/> <dcterms:bibliographicCitation>First publ. in: Journal of International Economics 76 (2008), 1, pp. 1 13</dcterms:bibliographicCitation> <foaf:homepage rdf:resource="http://localhost:8080/"/> <dspace:isPartOfCollection rdf:resource="https://kops.uni-konstanz.de/server/rdf/resource/123456789/46"/> <dc:format>application/pdf</dc:format> <dcterms:title>New evidence on the puzzles : Results from agnostic identification on monetary policy and exchange rates</dcterms:title> <dcterms:isPartOf rdf:resource="https://kops.uni-konstanz.de/server/rdf/resource/123456789/46"/> <dc:rights>terms-of-use</dc:rights> <dcterms:rights rdf:resource="https://rightsstatements.org/page/InC/1.0/"/> <bibo:uri rdf:resource="http://kops.uni-konstanz.de/handle/123456789/11982"/> <dc:creator>Scholl, Almuth</dc:creator> <void:sparqlEndpoint rdf:resource="http://localhost/fuseki/dspace/sparql"/> </rdf:Description> </rdf:RDF>