Abstract
It has been found that distinctions among positive innovations, negative innovations, and anticipated monetary policy change are relevant for explaining movement in real output. An asymmetry in the effects of anticipated expansionary and anticipated contractionary monetary policy on output also was found to be statistically significant, and the null hypothesis of no asymmetry in stimulative/contractionary policy was rejected. There is evidence that unanticipated stimulative, unanticipated contractionary, anticipated stimulative, and anticipated contractionary monetary policy each have statistically significant effects on output. Recognition of these asymmetries was found to make the finding of non-neutrality more likely.
| Original language | English |
|---|---|
| Pages (from-to) | 109-131 |
| Number of pages | 23 |
| Journal | Journal of Economics and Business |
| Volume | 51 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 1999 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 17 Partnerships for the Goals
Keywords
- contractionary
- expansionary
- monetary policy
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