Consumption and credit constraints: international evidence
Article Abstract:
Financial factors affect consumption according to data gathered from the US, Canada, the United Kingdom, Japan and France. By utilizing extended Kalman filtering techniques, the study reveals that excess sensitivity fluctuates over time, with a possibility to decrease in the US. Moreover, the borrowing/lending wedge plays a vital role in determining consumption in the US, Canada and Japan.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1997
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Estimating the effects of monetary shocks: an evaluation of different approaches
Article Abstract:
None of the commonly used methods of determining the effects of monetary shocks are supported by the research data. Utilization of a simple framework specifically showed that Wold orderings are not suitable to measure the impact of monetary shocks on market interest rates. Integration of current approaches can be undertaken to create unbiased assessment of the effects of monetary shocks.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1998
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