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dc.contributor.authorMatheron, Julien
dc.contributor.authorAvouyi-Dovi, Sanvi
dc.date.accessioned2011-01-18T14:29:20Z
dc.date.available2011-01-18T14:29:20Z
dc.date.issued2007
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/5491
dc.language.isoenen
dc.subjectSticky prices and wagesen
dc.subjectTaylor ruleen
dc.subjectOptimal monetary policyen
dc.subject.ddc339en
dc.subject.classificationjelE31en
dc.subject.classificationjelE32en
dc.subject.classificationjelE58en
dc.titleTechnology shocks and monetary policy : Revisiting the Fed's performanceen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenWould the U.S. economy's dynamic response to permanent technology shocks have been different from the actual responses if monetary authorities' systematic response to these shocks had been optimal ? To answer this question, we characterize the dynamic effects of permanent technology shocks and the way in which U.S. monetary authorities reacted to these shocks over the sample 1955(1)-2002(4) using a structural VAR. A sticky price-sticky wage model is developed and estimated to reproduce these responses. We then formally compare these responses with the outcome of the optimal monetary policy.en
dc.relation.isversionofjnlnameJournal of money, credit and banking
dc.relation.isversionofjnlvol39en
dc.relation.isversionofjnlissue2-3en
dc.relation.isversionofjnldate2007
dc.relation.isversionofjnlpages471-507en
dc.relation.isversionofdoihttp://dx.doi.org/10.1111/j.0022-2879.2007.00033.xen
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherOhio State University Pressen
dc.subject.ddclabelMacroéconomieen


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