Nonlinear monetary policy in Europe: fact or myth?

A Bruinshoofd; B Candelon

doi:10.1016/j.econlet.2004.08.008

Nonlinear monetary policy in Europe: fact or myth?

A Bruinshoofd, B Candelon^*

^*Corresponding author for this work

Macro, International & Labour Economics

Research output: Contribution to journal › Article › Academic › peer-review

Abstract

We hold the fort for linear specification of monetary policy and economic activity in Europe. Using data on the last two and a half decades, we cannot reject the hypothesis that monetary policy is a linear process and we find mixed results regarding economic activity. (c) 2004 Elsevier B.V. All rights reserved.

Original language	English
Pages (from-to)	399-403
Number of pages	5
Journal	Economics Letters
Volume	86
Issue number	3
DOIs	https://doi.org/10.1016/j.econlet.2004.08.008
Publication status	Published - Mar 2005

Keywords

Linearity tests
Nonlinear models
Time series model specification

Access to Document

10.1016/j.econlet.2004.08.008

Cite this

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title = "Nonlinear monetary policy in Europe: fact or myth?",

abstract = "We hold the fort for linear specification of monetary policy and economic activity in Europe. Using data on the last two and a half decades, we cannot reject the hypothesis that monetary policy is a linear process and we find mixed results regarding economic activity. (c) 2004 Elsevier B.V. All rights reserved.",

keywords = "Linearity tests, Nonlinear models, Time series model specification",

author = "A Bruinshoofd and B Candelon",

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AB - We hold the fort for linear specification of monetary policy and economic activity in Europe. Using data on the last two and a half decades, we cannot reject the hypothesis that monetary policy is a linear process and we find mixed results regarding economic activity. (c) 2004 Elsevier B.V. All rights reserved.

KW - Linearity tests

KW - Nonlinear models

KW - Time series model specification

U2 - 10.1016/j.econlet.2004.08.008

DO - 10.1016/j.econlet.2004.08.008

M3 - Article

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SP - 399

EP - 403

JO - Economics Letters

JF - Economics Letters

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