Statistical modeling of monetary policy and its effects

American Economic Review

Volumn 102, Issue 4, 2012, Pages 1187-1205

  Sims, Christopher A ^a  

^a PRINCETON UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84862623046     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/aer.102.4.1187     Document Type: Review

References (37)

1. Andersen, Leonall C., and Jerry L. Jordan. 1986. "Monetary and Fiscal Actions: A Test of Their Relative Importance in Economic Stabilization. " Federal Reserve Bank of St Louis Review 68(8):29-44.
2. Ando, Albert, and Franco Modigliani. 1965. "The Relative Stability of Monetary Velocity and the Investment Multiplier." American Economic Review 55(4):693-728.
3. Blanchard, Olivier J., and Mark W. Watson. 1986. "Are Business Cycles All Alike?" In The American Business Cycle: Continuity and Change, edited by Robert J. Gordon, 123-56. Chicago: University of Chicago Press.
4. Christiano, Lawrence J., Martin Eichenbaum, and Charles L. Evans. 2005. "Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy." Journal of Political Economy 113(1):1-45. (Pubitemid 40427103)
5. Del Negro, Marco, and Frank Schorfheide. 2004. "Priors from General Equilibrium Models for VARs." International Economic Review 45(2):643-73. (Pubitemid 38613945)
6. Del Negro, Marco, Frank Schorfheide, Frank Smets, and Rafael Wouters. 2007. "On the Fit of New Keynesian Models." Journal of Business and Economic Statistics 25(2):123-43.
7. Duesenberry, James S., Gary Fromm, Lawrence R. Klein, and Edwin Kuh, eds. 1965. The Brookings Quarterly Econometric Model of the United States. Skokie, IL: Rand McNally.
8. Duesenberry, James S., Gary Fromm, Lawrence R. Klein, and Edwin Kuh, eds. 1969. The Brookings Model: Some Further Results. Skokie, IL: Rand McNally.
9. Fair, Ray C. 1984. Specification, Estimation, and Analysis of Macroeconometric Models. Cambridge, MA: Harvard University Press.
10. Friedman, Milton, and David Meiselman. 1963. "The Relative Stability of Monetary Velocity and the Investment Multiplier in the United States, 1897-1958." In Stabilization Policies: A Series of Research Studies Prepared for the Commission on Money and Credit. Englewood Cliffs, NJ: Prentice-Hall.
11. Friedman, Milton, and Anna J. Schwartz. 1963a. A Monetary History of the United States, 1867-1960. Princeton, NJ: Princeton University Press.
12. Friedman, Milton, and Anna J. Schwartz. 1963b. "Money and Business Cycles." Review of Economics and Statistics 45(1):32-78.
13. Haavelmo, Trygve. 1943a. "The Statistical Implications of a System of Simultaneous Equations." Econometrica 11(1):1-12.
14. Haavelmo, Trygve. 1943b. "Statistical Testing of Business-Cycle Theories." Review of Economics and Statistics 25(1):13-18.
15. Haavelmo, Trygve. 1944. "The Probability Approach in Econometrics." Econometrica 12:1-115.
16. Hansen, Alvin H. 1952. A Guide to Keynes. New York: McGraw-Hill.
17. Hurwicz, Leonid. 1962. "On the Structural Form of Interdependent Systems." In Logic, Methodology and Philosophy of Science, 232-39. Stanford, CA: Stanford University Press.
18. Keynes, John Maynard. 1939. "Professor Tinbergen's Method." Economic Journal 49(195):558-77.
19. Leeper, Eric M., Christopher A. Sims, and Tao Zha. 1996. "What Does Monetary Policy Do?" Brookings Papers on Economic Activity (2): 1-63.
20. Leeper, Eric M., and Tao Zha. 2003. "Modest Policy Interventions." Journal of Monetary Economics 50(8):1673-700. (Pubitemid 37453284)
21. Liu, T. C. 1960. "Underidentification, Structural Estimation, and Forecasting." Econometrica 28(4):855-65.
22. Mehra, Yash P. 1978. "Is Money Exogenous in Money-Demand Equations." Journal of Political Economy 86(2):211-28.
23. Park, Woong Yong. 2010. "Evaluation of DSGE Models: With an Application to a Two-Country DSGE Model." http://www.sef.hku.hk/~wypark/.
24. Samuelson, Paul A. 1939. "Interactions Between the Multiplier Analysis and the Principle of Acceleration. " Review of Economics and Statistics 21(2):75-78.
25. Sargent, Thomas J. 1973. "Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment." Brookings Papers on Economic Activity (2): 429-72.
26. Sargent, Thomas J. 1984. "Autoregressions, Expectations, and Advice." American Economic Review 74(2):408-15.
27. Sims, Christopher A. 1972. "Money, Income, and Causality." American Economic Review 62(4):540-52.
28. Sims, Christopher A. 1980a. "Comparison of Interwar and Postwar Business Cycles: Monetarism Reconsidered." American Economic Review 70(2):250-57.
29. Sims, Christopher A. 1980b. "Macroeconomics and Reality." Econometrica 48(1):1-48.
30. Sims, Christopher A. 1986. "Are Forecasting Models Usable for Policy Analysis?" Federal Reserve Bank of Minneapolis Quarterly Review 10(1):2-16.
31. Sims, Christopher A. 1987. "A Rational Expectations Framework for Short-run Policy Analysis." In New Approaches to Monetary Economics: Proceedings of the Second International Symposium in Economic Theory and Econometrics, edited by William A. Barnett and Kenneth J. Singleton, 293-308. New York: Cambridge University Press.
32. Sims, Christopher A. 1989. "Models and Their Uses." American Journal of Agricultural Economics 71(2):489-94.
33. Sims, Christopher A. 2002. "The Role of Models and Probabilities in the Monetary Policy Process." Brookings Papers on Economic Activity (2): 1-40.
34. Smets, Frank, and Rafael Wouters. 2003. "An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area." Journal of the European Economic Association 1(5):1123-75.
35. Smets, Frank, and Rafael Wouters. 2007. "Shocks and Frictions in US Business Cycles: A Bayesian DSGE Approach." American Economic Review 97(3):586-606.
36. Tinbergen, Jan. 1939. Statistical Testing of Business-Cycle Theories, Volumes 1-2, in Publications: Economic and Financial. League of Nations, Economic Intelligence Service, http://books.google. com/books?id=E8MSAQAAMAAJ.
37. Tobin, James. 1970. "Money and Income: Post Hoc Ergo Propter Hoc?" Quarterly Journal of Economics 84(2):328-29.