Do Central Banks Respond to Exchange Rate Movements? A Structural Investigation

By Thomas A. Lubik, Frank Schorfheide. 2007

637 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/b8646fc5d7256a0a44736c0a89fbd8133dc698ea

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In Economics and Econometrics

Citations in the corpus

Monetary policy and uncertainty in an empirical small open-economy model (2010, methodology): “This is consistent with the ndings of Lubik and Schorfheide (2003). As expected, the estimates of the foreign block (excluded due to space considerations) are remarkably similar across countries.”
Analysing DSGE Models with Global Sensitivity Analysis (2008, methodology): “We perform here the detail analysis of the fitting properties of the Lubik and Schorfheide (2007) model.”
Monetary Policy in a Monetary Union: What Role for Regional Information? (2008, background): “A necessarily incomplete list of recent contributions dealing with these themes includes Peersman and Smets (1999), Taylor (1999a, 1999b), Orphanides (2001), Rudebusch (2001, 2002), Levin, Wieland, and Williams (2003), and Lubik and Schorfheide (2007) .”
Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances (2010, background): “These include amongst others: Ambler et al. (2004), Bergin (2003, in press), Del Negro (unpublished), Ghironi (2000), Justiniano and Preston (2008b), Lubik and Schorfheide (2005, 2007), Lubik and Teo (in press) and Rabanal and Tuesta (unpublished).”
Has U.S. Monetary Policy Tracked the Efficient Interest Rate (2014, neutral): “According to McCallum and Nelson (2011), this construct emerged in the early 1990s at the Federal Reserve as a gauge of the monetary policy stance following a shift of emphasis away from monetary aggregates, due to the difficulty of estimating a non-inflationary growth rate of money in the midst of ”
Inflation Targeting: What Have We Learned? (2009, background): “For example, Lubik and Schorfheide (2007) find that both the Bank of England and the Bank of Canada respond to exchange rate movements.”
Estimation with overidentifying inequality moment conditions (2009, positive): “In some applications, e.g. Lubik and Schorfheide (2007), aggregate output is modelled as unit root process and output growth is included as argument in the monetary policy rule (M1), whereas in other applications, e.g., Smets and Wouters (2003) and Del Negro and Schorfheide (2007), output is…”
Monetary policy and exchange rate overshooting: Dornbusch was right after all* (2009, methodology): “For instance, Lubik and Schorfheide (2007) estimate a DSGE model to examine whether small open economies respond to exchange rate movements.”
Determinacy and Learnability of Monetary Policy Rules in Small Open Economies (2006, methodology): “Overall, it is relevant to analyze this type of rule and its properties since there exists robust evidence that Bank of Canada and the Bank of England have been following a similar policy rule; see Lubik and Schorfheide (2006).”