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http://hdl.handle.net/10071/10087
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Title: The cost channel reconsidered: a comment using an identification-robust approach
Authors: Gabriel, V. J.
Martins, L. F.
Keywords: Cost channel
Generalized empirical likelihood
GMM
Phillips curve
Weak identification
Issue Date: 2010
Publisher: Wiley-Blackwell
Abstract: We reexamine the empirical relevance of the cost channel of monetary policy (e.g., <link rid="b21">Ravenna and Walsh 2006), employing recently developed moment-conditions inference methods, including identification-robust procedures. Using U.S. data, our results suggest that the cost channel effect is poorly identified and we are thus unable to corroborate the previous results in the literature.
Peer reviewed: Sim
URI: https://ciencia.iscte-iul.pt/public/pub/id/6203
http://hdl.handle.net/10071/10087
ISSN: 0022-2879
Publisher version: The definitive version is available at: http://dx.doi.org/10.1111/j.1538-4616.2010.00361.x
Appears in Collections:BRU-RI - Artigo em revista científica internacional com arbitragem científica

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