What are the effects of monetary policy on output? Results from an agnostic identification procedure

Macroeconomics and Reality

1980 • 12,249 citations

Econometric policy evaluation: A critique

1976 • 5,457 citations

The Role of Monetary Policy

1995 • 4,093 citations

MONEY, INCOME, AND CAUSALITY

1972 • 3,059 citations

The Federal funds rate and the channels of monetary transmission

1992 • 2,837 citations

Let's Take the Con Out of Econometrics

1983 • 2,356 citations

An Introduction to Bayesian Inference in Econometrics.

1974 • 2,058 citations

Unit Roots, Cointegration, and Structural Change

1999 • 1,909 citations

Interpreting the macroeconomic time series facts

1992 • 1,879 citations

Measuring Monetary Policy

1998 • 1,691 citations

Systematic Monetary Policy and the Effects of Oil Price Shocks

1997 • 1,543 citations

Chapter 2 Monetary policy shocks: What have we learned and to what end?

1999 • 1,351 citations

Alternative explanations of the money-income correlation

1986 • 1,197 citations

Are Forecasting Models Usable for Policy Analysis?

1986 • 1,181 citations

The Effects of Monetary Policy Shocks: Evidence from the Flow of Funds

1996 • 1,174 citations

What Does Monetary Policy Do?

1996 • 1,136 citations

Forecasting and conditional projection using realistic prior distributions

1984 • 1,111 citations

Bayesian Methods for Dynamic Multivariate Models

1998 • 975 citations

Error Bands for Impulse Responses

1999 • 965 citations

Small-sample Confidence Intervals for Impulse Response Functions

1998 • 911 citations

Monetary disturbances matter for business fluctuations in the G-7

2002 • 736 citations

Does Monetary Policy Matter? A New Test in the Spirit of Friedman and Schwartz

1989 • 723 citations

NUMERICAL METHODS FOR ESTIMATION AND INFERENCE IN BAYESIAN VAR-MODELS

1997 • 566 citations

‘Interpreting the macroeconomic time series facts: The effects of monetary policy’

1992 • 500 citations

Sticky price and limited participation models of money: A comparison

1997 • 497 citations

New Evidence on the Monetary Transmission Mechanism

1990 • 490 citations

The identification of monetary policy disturbances explaining the liquidity puzzle

1995 • 480 citations

The Dynamic Impacts of Monetary Policy: An Exercise in Tentative Identification

1994 • 465 citations

The American Business Cycle

1986 • 464 citations

Understanding Unit Rooters: A Helicopter Tour

1991 • 447 citations

The robustness of identified VAR conclusions about money

1998 • 439 citations

Recent developments in bootstrapping time series

2000 • 337 citations

Measuring monetary policy with VAR models: An evaluation

1998 • 278 citations

Alternative Explanations of the Money-Income Correlation

1986 • 266 citations

Do monetary policy shocks matter in the G-7 countries? Using common identifying assumptions about monetary policy across countries

1999 • 258 citations

What are the Effects of Fiscal Policy Shocks?

2002 • 256 citations

In search of the liquidity effect

1992 • 244 citations

On Sticky Prices: Academic Theories Meet the Real World

1994 • 206 citations

Bayesian reduced rank regression in econometrics

1996 • 195 citations

The liquidity effect and long-run neutrality

1998 • 179 citations

Bayesian Vector Autoregressions with Stochastic Volatility

1997 • 167 citations

Political economy, growth, and business cycles

1992 • 159 citations

What Macroeconomists Should Know about Unit Roots: A Bayesian Perspective

1994 • 153 citations

Systematic Monetary Policy and the Effects of Oil Price Shocks

1997 • 149 citations

Liquidity models in open economies: Theory and empirical evidence

1996 • 146 citations

On the Shape of the Likelihood/Posterior in Cointegration Models

1994 • 137 citations

Nonstandard Indicators for Monetary Policy: Can Their Usefulness Be Judged from Forecasting Regressions?

1994 • 120 citations

Monetary policy shocks:

2004 • 113 citations

Real business cycles, real exchange rates, and actual policies

1986 • 99 citations

Diffusion of Technical Change and the Decomposition of Output into Trend and Cycle

1994 • 83 citations

Technology Shocks and Aggregate Fluctuations

2006 • 83 citations

Confidence intervals for impulse responses under departures from normality

1998 • 77 citations

The American Business Cycle

1990 • 64 citations

Asymptotic Distributions of Impulse Responses, Step Responses, and Variance Decompositions of Estimated Linear Dynamic Models

1993 • 63 citations

Monetary Policy Misspecification in VAR Models

1999 • 63 citations

Priors from General Equilibrium Models for VARs

2002 • 52 citations

Effects of Monetary Policy

2001 • 50 citations

WHAT MACROECONOMISTS SHOULD KNOW ABOUT UNIT ROOTS

1994 • 48 citations

Monetary Policy Misspecification in VAR Models

2000 • 42 citations

Towards a Monthly Business Cycle Chronology for the Euro Area

2004 • 42 citations

The robustness of identified VAR conclusions about money

1998 • 25 citations

Shocks: A comment

1994 • 18 citations

Common and uncommon trends and cycles

1994 • 18 citations

Impulse Response Priors for Discriminating Structural Vector Autoregressions

1998 • 12 citations

On the Real Effects of Monetary Policy

1999 • 7 citations

Deleted Work

1955 • 0 citations