Measuring the Channels of Monetary Policy Transmission: A Factor-Augmented Vector Autoregressive (Favar) Approach
There is more consensus on the effects of monetary policy than its transmission mechanism. Two channels of transmission mechanisms are the conventional interest rate channel and the credit channel. I investigate the channels of monetary policy transmission in the U.S. using the factor-augmented vect...
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| Format: | Article |
| Language: | English |
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Sciendo
2016-05-01
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| Series: | Journal of Central Banking Theory and Practice |
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| Online Access: | https://doi.org/10.1515/jcbtp-2016-0009 |