文章基本信息

标题：THE COST CHANNEL RECONSIDERED: A COMMENT USING AN IDENTIFICATION-ROBUST APPROACH
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作者：Vasco J Gabriel ; Luis F Martins
期刊名称：Discussion Papers in Economics / Department of Economics, University of Surrey
出版年度：2010
卷号：2010
出版社：University of Surrey
摘要：We re-examine the empirical relevance of the cost channel of monetary policy (e.g. Ravenna andWalsh, 2006), employing recently developed moment-conditions inference meth- ods, including identi.cation-robust procedures. Using US data, our results suggest that the cost channel e¤ect is poorly identi.ed and we are thus unable to corroborate the previous results in the literature.
关键词：Cost channel; Phillips curve; GMM; Generalized Empirical Likelihood; Weak Identi.cation.