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Gabriel, V. J. & Martins, L. F. (2010). The cost channel reconsidered: a comment using an identification-robust approach. Journal of Money, Credit and Banking. 42 (8), 1703-1712
V. J. Gabriel and L. F. Martins, "The cost channel reconsidered: a comment using an identification-robust approach", in Journal of Money, Credit and Banking, vol. 42, no. 8, pp. 1703-1712, 2010
@article{gabriel2010_1732207364997, author = "Gabriel, V. J. and Martins, L. F.", title = "The cost channel reconsidered: a comment using an identification-robust approach", journal = "Journal of Money, Credit and Banking", year = "2010", volume = "42", number = "8", doi = "10.1111/j.1538-4616.2010.00361.x", pages = "1703-1712", url = "http://onlinelibrary.wiley.com/doi/10.1111/j.1538-4616.2010.00361.x" }
TY - JOUR TI - The cost channel reconsidered: a comment using an identification-robust approach T2 - Journal of Money, Credit and Banking VL - 42 IS - 8 AU - Gabriel, V. J. AU - Martins, L. F. PY - 2010 SP - 1703-1712 SN - 0022-2879 DO - 10.1111/j.1538-4616.2010.00361.x UR - http://onlinelibrary.wiley.com/doi/10.1111/j.1538-4616.2010.00361.x AB - We reexamine the empirical relevance of the cost channel of monetary policy (e.g., 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. ER -