Titelaufnahme

Titel
Same, but different : testing monetary policy shock measures / Stephanie Ettmeier, Alexander Kriwoluzky ; IWH, Halle Institute for Economic Research
VerfasserEttmeier, Stephanie ; Kriwoluzky, Alexander
KörperschaftLeibniz-Institut für Wirtschaftsforschung Halle
ErschienenHalle (Saale), Germany : Halle Institute for Economic Research (IWH), April 2017
Umfang1 Online-Ressource (13 Seiten, 0,55 MB) : Diagramme
SpracheEnglisch
SerieIWH-Diskussionspapiere ; 2017, no. 9
URNurn:nbn:de:gbv:3:2-71302 
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Same, but different [0.55 mb]
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In this study we test whether three popular measures for monetary policy that is Romer and Romer (2004) Barakchian and Crowe (2013) and Gertler and Karadi (2015) constitute suitable proxy variables for monetary policy shocks. To this end we employ different test statistics used in the literature to detect weak proxy variables. We find that the measure derived by Gertler and Karadi (2015) is the most suitable in this regard.