Money's Role in the Monetary Business Cycle

By Peter N. Ireland. 2004

381 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/11ebde5d28ec8bbc2cde0171560b0409e06e8c92

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Citations in the corpus

Data Uncertainty and the Role of Money as an Information Variable for Monetary Policy (2005, neutral): “For analysis of this issue in models with explicit microeconomic foundations, see Ireland (2001), McCallum (2001) and Leahy (2001).”
Money in an Estimated Business Cycle Model of the Euro Area (2006, positive): “In this section we set out the basic equations of the model, whose predecessors can be found in McCallum and Nelson (1999), Woodford (1999), and more recently Ireland (2001), among others.”
THE REAL-INTEREST-RATE GAP AS AN INFLATION INDICATOR (2003, positive): “, Ireland (1997)], and so, it can be obtained by imposing this condition. Second, we specify a model of gradual price adjustment based on the Calvo–Rotemberg model. Following Roberts (1995), we write the New Keynesian Phillips curve as”
Monetary Policy Analysis in Models Without Money (2001, neutral): “…to the costs or impossibility of changing prices in relation to the previous period’s level, a rational version of the model would be concerned with changes relative to the previous period’s level plus the average one-period inflation rate, as in the version of the model used by Ireland (2000).”
Putting "M" Back in Monetary Policy (2003, positive): “The gap between the actual and implied series represents the 18Drawing on Clarida, Gali, and Gertler (1999) and Ireland (2001b), we set σ = 1,λ = .”
Fluctuating Macro Policies and the Fiscal Theory [with Comments and Discussion] (2005, positive): “We are reassured in doing this by the model-based estimates of Ireland (2001) and Lubik and Schorfheide (2004), which are very close to single-equation estimates of Taylor rules. It is noteworthy, though, that in an identified switching VAR, Sims and Zha (2006) conclude that monetary policy was cons”
New Consensus Macroeconomics: A Critical Appraisal (2009, neutral): “The empirical work undertaken by Ireland (2004), Andres, Lopez-Salido, and Valles (2006), and Jones and Stracca (2008) suggest that there is little evidence that supports the inclusion of real money balances in equation (1) in the cases of the United States, the euro area, and the UK.”
Endogenous Money or Sticky Prices? (2002, methodology): “Ireland (2001a), however, discovers that data on output, money, inßation, and interest rates are insufficient to identify the capital adjustment cost parameter in a model that is quite similar to the one used here.”