What are the Effects of Monetary Policy Shocks? Evidence from Dollarized Countries

  • Tim Willems, Tim Willemsy
  • Published 2017

Abstract

Identifying monetary policy shocks is di¢ cult. Therefore, instead of trying to do this perfectly, this paper exploits a natural setting that reduces the consequences of shock misidenti…cation. It does so by inferring from the responses of variables in dollarized countries. They import US monetary policy just as genuine US states do, but have the advantage… (More)

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Cite this paper

@inproceedings{Willems2017WhatAT, title={What are the Effects of Monetary Policy Shocks? Evidence from Dollarized Countries}, author={Tim Willems and Tim Willemsy}, year={2017} }