Has Monetary Policy Become More Effective?

By Jean Boivin, Marc P. Giannoni. Review of Economics and Statistics, 2006

966 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/d357bcb957a1554642e1a5d9e2dbc0934a7046ad

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Citations in the corpus

On the Transmission Mechanism of Monetary Policy (2008, background): “Barran et al. 1995; Boivin and Giannoni 2006; Fukuda 1993; Golinelli and Rovelli 2005; Goodhart and Hofmann 2005; Kim 2003; Lutkepohl and Wolters 2003).”
Innocent Bystanders? Monetary Policy and Inequality in the U.S. (2012, positive): “The impulse responses point to smaller real effects of monetary policy shocks since 1980, in line with Boivin and Giannoni (2006), although the differences over the two samples are not statistically significant.”
The persistence of inflation in the United States (2007, background): “Clarida et al. (2000) and Boivin and Giannoni (2006) have econometrically identified shifts in the parameters of Taylor rules fit to describe the setting of interest rates by the Federal Reserve.”
Likelihood-based Analysis for Dynamic Factor Models (2008, methodology): “Our approach is closer in spirit to the likelihood-based analyses of Bernanke, Boivin, and Eliasz (2005) and Boivin and Giannoni (2006). The estimation 21”
Macroeconomic Shocks and Their Propagation (2016, background): “Boivin et al. (2010) discuss various reasons why the monetary transmission mechanism might have changed, such as changes in the regulatory environment affecting credit and the anchoring of expectations. Barakchian and Crowe (2013) estimate many of the standard models, such as by those by Bernanke an”
Equilibrium Unemployment, Job Flows and Inflation Dynamics (2009, neutral): “11 The representative household chooses consumption and asset holdings to maximize (4) subject to (5), which yields λt = βEt (rtλt+1) , (6)”
Monetary policy matters: Evidence from new shocks data (2013, background): “Boivin and Giannoni (2006) test for instability in a small structural VAR, and find evidence for a structural break.”
Comparing Shocks and Frictions in Us and Euro Area Business Cycles: A Bayesian DSGE Approach (2004, positive): “The fall in the variability of the non-systematic component of monetary policy is consistent with the findings of Boivin and Giannoni (2003), who conclude that changes in both systematic and non-systematic monetary policy have contributed to the lower variability of the US economy in the most recent”
Advances in Forecasting Under Instability (2012, neutral): “…various forms of forecast averaging can improve real-time forecasts of small-scale VARs in the presence of instabilities (see Kozicki and Tinsley, 2001, Cogley and Sargent, 2005, Boivin and Giannoni, 2006, and Inoue and Rossi, 2011, among others, for empirical evidence of instabilities in VARs).”