Earticle

초록

영어

To analyze the effect of monetary policy shock on the economy is very important both for implementing the efficient monetary policy and exploring the casual relationship between the money and the income. In general, it is argued that the identification of policy shock plays a important role in estimating the policy effect on the macroeconomy. Up to this point, there are many papers estimating the effect of monetary policy shocks using much variety of identification restrictions in the context of structural vector autoregression. This paper provides a useful framework for reviewing the previous studies, focusing on the identification assumptions. Also, this paper summarize the identification of monetary policy shocks shown in the previous studies. After reviewing the previous works on this subject, this paper shows the following results; First, the papers with successful identification considers the interaction between the demand for and supply of money. Second, the variables reflecting the inflationary pressure are contained in the monetary policy reaction function. Third, it is shown that in the case of small open economy, information on the exchange rate is useful for identification of policy shocks and the block exogeneity restriction is widely adopted.

목차

Abstract
 Ⅰ. 서론
 Ⅱ. 통화정책식별의 개념적 문제
 Ⅲ. 통화정책충격의 계량경제적 식별
 Ⅳ. 결론
 참고문헌

키워드

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  무역통상학회지 [Journal of Korea Research Association of International Commerce]

• 간기

  격월간

• pISSN

  1738-4354

• 수록기간

  2001~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 326 DDC 380