2026-04-14T09:04:52Zhttps://recercat.cat/oai/requestoai:recercat.cat:10230/117162025-12-22T02:17:33Zcom_2072_6col_2072_452953
Does money matter in shaping domestic business cycles? An international investigation (with appendices)
Canova, Fabio
Menz, Tobias
Universitat Pompeu Fabra. Departament d'Economia i Empresa
money
business cycles
shock transmission
inflation dynamics.
Macroeconomics and International Economics
We study the contribution of money to business cycle fluctuations in the US,
the UK, Japan, and the Euro area using a small scale structural monetary business
cycle model. Constrained likelihood-based estimates of the parameters are
provided and time instabilities analyzed. Real balances are statistically important
for output and inflation fluctuations. Their contribution changes over time. Models
giving money no role provide a distorted representation of the sources of cyclical
fluctuations, of the transmission of shocks and of the events of the last 40 years.
2017-07-26T12:07:55Z
2017-07-26T12:07:55Z
2009-07-01
2017-07-23T02:13:33Z
info:eu-repo/semantics/workingPaper
https://econ-papers.upf.edu/ca/paper.php?id=1242
Journal of Money, Credit and Banking, 43(4), 577-609, 2011
http://hdl.handle.net/10230/11716
eng
Economics and Business Working Papers Series; 1242
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
info:eu-repo/semantics/openAccess
application/pdf
application/pdf