RT Generic
T1 Modelling monetary transmission in UK manufacturing industry
A1 Tena Horrillo, Juan de Dios
A1 Tremayne, A. R.
AB This paper studies the transmission of monetary policy to industrial output in the UK. In order to capture asymmetries, a system of threshold equations is considered. However, unlike previous research, endogenous threshold parameters are allowed to be different for each equation. This approach is consistent with economic intuition and is shown to be of tangible importance after suitable econometric evaluation. Results show evidence of cross-sectional differences across industries and asymmetries in some sectors. These findings contribute to the debate about the importance of alternative economic theories to explain these asymmetries and support the use of a sectorally disaggregated approach to the analysis of monetary transmission.
YR 2006
FD 2006-05
LK https://hdl.handle.net/10016/242
UL https://hdl.handle.net/10016/242
LA eng
LA eng
DS e-Archivo
RD 1 sept. 2024