Skip to content Skip to navigation
University of Warwick
  • Study
  • |
  • Research
  • |
  • Business
  • |
  • Alumni
  • |
  • News
  • |
  • About

University of Warwick
Publications service & WRAP

Highlight your research

  • WRAP
    • Home
    • Search WRAP
    • Browse by Warwick Author
    • Browse WRAP by Year
    • Browse WRAP by Subject
    • Browse WRAP by Department
    • Browse WRAP by Funder
    • Browse Theses by Department
  • Publications Service
    • Home
    • Search Publications Service
    • Browse by Warwick Author
    • Browse Publications service by Year
    • Browse Publications service by Subject
    • Browse Publications service by Department
    • Browse Publications service by Funder
  • Help & Advice
University of Warwick

The Library

  • Login
  • Admin

TFP persistence and monetary policy

Tools
- Tools
+ Tools

Pancrazi, Roberto and Vukotić, Marija (2011) TFP persistence and monetary policy. In: American Economics Association Annual Meeting, Chicago, Illinois, 6 Jan, 2012

[img]
Preview
Text
WRAP_Pancrazi_TFPPersistence.pdf - Draft Version

Download (664Kb) | Preview
Official URL: http://www.aeaweb.org/aea/2012conference/program/r...

Request Changes to record.

Abstract

In this paper, by using several statistical tools, we provide evidence of an increase in the persistence of the U.S. total factor productivity. In a forward looking model, agents' optimal behavior depends on the autocorrelation structure of the exogenous shocks. Since many monetary models are driven by exogenous TFP shocks, we study the interaction between monetary policy and TFP persistence. Considering a New-Keynesian model, first, we analytically derive the interaction between the TFP persistence, monetary policy parameters, and output gap and inflation. Second, we show that TFP persistence affects the optimal behavior of the monetary policy.

Item Type: Conference Item (Paper)
Alternative Title: Total factor productivity persistence and monetary policy
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Social Sciences > Economics
Library of Congress Subject Headings (LCSH): Industrial productivity -- United States, Industrial productivity -- Econometric models, Monetary policy -- United States
Official Date: September 2011
Dates:
DateEvent
September 2011Completion
Number of Pages: 62
Status: Not Peer Reviewed
Publication Status: Published
Access rights to Published version: Open Access
Description:

Preliminary and incomplete draft

Conference Paper Type: Paper
Title of Event: American Economics Association Annual Meeting
Type of Event: Conference
Location of Event: Chicago, Illinois
Date(s) of Event: 6 Jan, 2012

Request changes or add full text files to a record

Repository staff actions (login required)

View Item View Item

Downloads

Downloads per month over past year

View more statistics

twitter

Email us: wrap@warwick.ac.uk
Contact Details
About Us