Replication data for: Monetary Policy Rules and Macroeconomic Stability: Some New Evidence

Principal Investigator(s):  View help for Principal Investigator(s) Sophocles Mavroeidis

Version:  View help for Version V1

Name File Type Size Last Modified
  images 09/14/2021 11:32:AM
CGGmodel.ox text/x-c++ 1 KB 10/11/2019 10:35:AM
CGGmodel.ox.html application/xml 2.6 KB 10/11/2019 10:34:AM
Gmm.h text/x-c++ 8.6 KB 10/11/2019 10:35:AM
Gmm.ox text/x-c 56.5 KB 10/11/2019 10:34:AM
Gmm.ox.html application/xml 55.4 KB 10/11/2019 10:34:AM
LICENSE.txt text/plain 14.6 KB 10/11/2019 10:35:AM
data.xls application/octet-stream 17.7 KB 10/11/2019 10:35:AM
default.html application/xml 1.6 KB 10/11/2019 10:34:AM
ellipse.ox text/x-c 3.5 KB 10/11/2019 10:35:AM

Project Citation: 

Mavroeidis, Sophocles. Replication data for: Monetary Policy Rules and Macroeconomic Stability: Some New Evidence. Nashville, TN: American Economic Association [publisher], 2010. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112332V1

Project Description

Summary:  View help for Summary I revisit the question of indeterminacy in US monetary policy using limited-information identification-robust methods. I find that the conclusions of Clarida, Galí, and Gernter (2000) that policy was inactive before 1979 are robust, but the evidence over the Volcker-Greenspan periods is inconclusive. I show that this is in fact consistent with policy being active over that period. Problems of identification also arise because policy reaction has been more gradual recently. At a methodological level, the paper demonstrates that identification issues should be taken seriously, and that identification-robust methods can be informative even when they produce wide confidence sets. (E31, E32, E52, E65,)

Scope of Project

Subject Terms:  View help for Subject Terms Macroeconomic data; Econometrics
JEL Classification:  View help for JEL Classification
      E31 Price Level; Inflation; Deflation
      E32 Business Fluctuations; Cycles
      E52 Monetary Policy
      E65 Studies of Particular Policy Episodes
Geographic Coverage:  View help for Geographic Coverage United States
Time Period(s):  View help for Time Period(s) 1960 – 2006
Data Type(s):  View help for Data Type(s) observational data; program source code; aggregate data

Methodology

Data Source:  View help for Data Source Board of Governors of the Federal Reserve System; U.S. Department of Commerce, Bureau of Economic Analysis; U.S. Congress: Congressional Budget Office

Related Publications

Download this project

Published Versions

V1 [2019-10-11]

Export Metadata

Dublin Core

DDI 2.5

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.