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Bank of Canada RSS Feedsen2024-03-28T20:03:43+00:00Interpreting Money-Supply and Interest-Rate Shocks as Monetary-Policy Shocks
https://www.bankofcanada.ca/1996/07/working-paper-1996-8/
In this paper two shocks are analysed using Canadian data: a money-supply shock ("M-shock") and an interest-rate shock ("R-shock"). Money-supply shocks are derived using long-run restrictions based on long-run propositions of monetary theory. Thus, an M-shock is represented by an orthogonalized innovation in the trend shared by money and prices.1996-07-01T15:41:31+00:00enInterpreting Money-Supply and Interest-Rate Shocks as Monetary-Policy Shocks1996-07-01Monetary and financial indicatorsMonetary policy transmissionWorking Paper 1996-8 https://www.bankofcanada.ca/wp-content/uploads/2010/05/wp96-8.pdfInterpreting Money-Supply and Interest-Rate Shocks as Monetary-Policy ShocksMarcel KasumovichJuly 1996EE4E43E5E51