Nonlinear monetary policy in Europe: fact or myth?

被引：6

作者：

Bruinshoofd, A

Candelon, B

机构：

[1] Univ Limburg, Dept Econ, NL-6200 MD Maastricht, Netherlands

[2] De Nederlandsche Bank, Res Dept, NL-1000 AB Amsterdam, Netherlands

来源：

ECONOMICS LETTERS | 2005年 / 86卷 / 03期

关键词：

time series model specification; linearity tests; nonlinear models;

D O I：

10.1016/j.econlet.2004.08.008

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We hold the fort for linear specification of monetary policy and economic activity in Europe. Using data on the last two and a half decades, we cannot reject the hypothesis that monetary policy is a linear process and we find mixed results regarding economic activity. (c) 2004 Elsevier B.V. All rights reserved.

引用

页码：399 / 403

页数：5

共 15 条

[1] Predicting the probability of a recession with nonlinear autoregressive leading-indicator models [J].