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Delayed overshooting: is it an '80s puzzle?

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dc.affiliation.dptoUC3M. Departamento de Economíaes
dc.contributor.authorKim, Seong Hoong
dc.contributor.authorMoon, Seongman
dc.contributor.authorVelasco, Carlos
dc.contributor.funderComunidad de Madrides
dc.contributor.funderMinisterio de Economía y Competitividad (España)es
dc.date.accessioned2022-06-02T15:42:13Z
dc.date.available2022-06-02T15:42:13Z
dc.date.issued2017-10-01
dc.description.abstractWe reinvestigate the delayed overshooting puzzle. Using a method of sign restrictions,we find that delayed overshooting is primarily a phenomenon of the 1980s when the Fed was under the chairmanship of Paul Volcker. Related findings are as follows: (1) Uncovered interest parity fails to hold during the Volcker era and tends to hold during the post- Volcker era; (2) US monetary policy shocks have substantial impacts on exchange rate variations but misleadingly appear to have small impacts when monetary policy regimes are pooled. In brief, we confirm Dornbusch’s overshooting hypothesis.en
dc.description.sponsorshipSupport from the Ministerio Economía y Competitividad (Spain), grants ECO2010-19357,SEJ2007-62908, ECO2012-31748, ECO2014-57007p, and MDM 2014-0431, Comunidad de Madrid, and MadEco-CM(S2015/HUM-3444) is gratefully acknowledged.en
dc.identifier.bibliographicCitationKim, S.-H., Moon, S., & Velasco, C. (2017). Delayed Overshooting: Is It an ’80s Puzzle? Journal of Political Economy, 125 (5), pp. 1570-1598.en
dc.identifier.doihttps://doi.org/10.1086/693372
dc.identifier.issn0022-3808
dc.identifier.publicationfirstpage1570es
dc.identifier.publicationissue5es
dc.identifier.publicationlastpage1598es
dc.identifier.publicationtitleJOURNAL OF POLITICAL ECONOMYen
dc.identifier.publicationvolume125es
dc.identifier.urihttps://hdl.handle.net/10016/34985
dc.identifier.uxxiAR/0000020534
dc.language.isoengen
dc.publisherThe University of Chicago Pressen
dc.relation.projectIDGobierno de España. ECO2010-19357es
dc.relation.projectIDGobierno de España. SEJ2007-62908es
dc.relation.projectIDGobierno de España. ECO2012-31748es
dc.relation.projectIDGobierno de España. ECO2014-57007-Pes
dc.relation.projectIDGobierno de España. MDM 2014-0431es
dc.relation.projectIDComunidad de Madrid. S2015/HUM-3444es
dc.rights© 2017 by The University of Chicago. All rights reservedes
dc.rightsAtribución-NoComercial 3.0 España*
dc.rights.accessRightsopen accessen
dc.rights.urihttp://creativecommons.org/licenses/by-nc/3.0/es/*
dc.subject.ecienciaEconomíaes
dc.titleDelayed overshooting: is it an '80s puzzle?en
dc.typeresearch article*
dc.type.hasVersionVoR*
dspace.entity.typePublication
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