Please use this identifier to cite or link to this item: http://hdl.handle.net/1822/11657

TitleThe cost channel reconsidered : a comment using an identification-robust approach
Author(s)Gabriel, Vasco J.
Martins, Luís F.
KeywordsCost channel
Phillips curve
GMM
Generalized empirical likelihood
Weak identification
Issue date2010
PublisherUniversidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
Citation“NIPE Working Paper”. 30 (2010) 1-12.
Abstract(s)We re-examine the empirical relevance of the cost channel of monetary policy (e.g. Ravenna and Walsh, 2006), employing recently developed moment-conditions inference methods, including identification-robust procedures. Using US data, our results suggest that the cost channel effect is poorly identified and we are thus unable to corroborate the previous results in the literature.
TypeWorking paper
URIhttp://hdl.handle.net/1822/11657
Peer-Reviewedno
AccessOpen access
Appears in Collections:NIPE - Documentos de Trabalho

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