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dc.contributor.authorBhuiyan, Mohammaden
dc.date2009-06-15 15:59:13.04
dc.date.accessioned2009-06-15T20:16:34Z
dc.date.available2009-06-15T20:16:34Z
dc.date.issued2009-06-15T20:16:34Z
dc.identifier.urihttp://hdl.handle.net/1974/1944
dc.descriptionThesis (Ph.D, Economics) -- Queen's University, 2009-06-15 15:59:13.04en
dc.description.abstractThis thesis estimates the effects of monetary policy shocks by employing vector auto regressions (VAR). I argue that to the extent the central bank and the private sector have information not reflected in the VAR, the measurement of policy innovations is contaminated. These incorrectly estimated policy shocks then generate misleading results about the effects of monetary policy. This thesis first attempts to figure out the variables indeed observed by central banks to make monetary policy decisions and then formulates the monetary policy reaction function by using those variables. Having identified more realistic monetary policy functions in VAR models, I conclude that most of the previous puzzling results about the effect of monetary policy shocks might be due to incorrectly identifying the monetary policy reaction function.en
dc.format.extent641019 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoengen
dc.relation.ispartofseriesCanadian thesesen
dc.rightsThis publication is made available by the authority of the copyright owner solely for the purpose of private study and research and may not be copied or reproduced except as permitted by the copyright laws without written authority from the copyright owner.en
dc.subjectMonetary Policyen
dc.subjectVAR Modelen
dc.titleIdentifying Monetary Policy in Open Economiesen
dc.typethesisen
dc.description.degreePhDen
dc.contributor.supervisorSmith, Gregoren
dc.contributor.departmentEconomicsen
dc.degree.grantorQueen's University at Kingstonen


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