| dc.contributor |
Universitat Pompeu Fabra. Departament d'Economia i Empresa |
| dc.contributor.author |
Canova, Fabio |
| dc.contributor.author |
Menz, Tobias |
| dc.date.accessioned |
2011-06-09T08:49:52Z |
| dc.date.available |
2011-06-09T08:49:52Z |
| dc.date.created |
2009-07 |
| dc.date.issued |
2011-06-09T08:49:52Z |
| dc.identifier.uri |
http://hdl.handle.net/2072/152059 |
| dc.format.extent |
410586 bytes |
| dc.format.mimetype |
application/pdf |
| dc.language.iso |
eng |
| dc.relation.ispartofseries |
Economics and Business Working Papers Series; 1242 |
| dc.rights |
Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/) |
| dc.subject.other |
Money, business cycles, shock transmission, inflation dynamics. |
| dc.title |
Does money matter in shaping domestic business cycles? An international investigation (with appendices) |
| dc.type |
info:eu-repo/semantics/workingPaper |
| dc.description.abstract |
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. |