The effects of monetary policy on total factor productivity in the Euro Area
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/104199 |
Resumo: | This paper analyses the impact that Monetary Policy has on Total Factor Produc-tivity (TFP) in the Euro Area, by computing a utilization corrected TFP measure andobtaining impulse response functions by using Local Projections with a high frequencyidentification external instrument. It finds evidence of a negative relationship betweentightening monetary policy and aggregate TFP, being part of this effect explained by afall in capital utilization. A sample split shows that the response of TFP to a monetaryshock is twice as large during the pre crisis period, suggesting that the financial crisisaftermath had a considerable impact on this linkage. |
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7160 |
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The effects of monetary policy on total factor productivity in the Euro AreaMonetary policyTotal factor productivityHigh frequency identificationLocal projectionsDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis paper analyses the impact that Monetary Policy has on Total Factor Produc-tivity (TFP) in the Euro Area, by computing a utilization corrected TFP measure andobtaining impulse response functions by using Local Projections with a high frequencyidentification external instrument. It finds evidence of a negative relationship betweentightening monetary policy and aggregate TFP, being part of this effect explained by afall in capital utilization. A sample split shows that the response of TFP to a monetaryshock is twice as large during the pre crisis period, suggesting that the financial crisisaftermath had a considerable impact on this linkage.Duarte, João B.RUNLuis, Pedro Neves Rebelo2021-01-03T01:30:39Z2020-01-152020-01-032020-01-15T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/104199TID:202492052enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:49:42Zoai:run.unl.pt:10362/104199Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:40:09.797819Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The effects of monetary policy on total factor productivity in the Euro Area |
title |
The effects of monetary policy on total factor productivity in the Euro Area |
spellingShingle |
The effects of monetary policy on total factor productivity in the Euro Area Luis, Pedro Neves Rebelo Monetary policy Total factor productivity High frequency identification Local projections Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
The effects of monetary policy on total factor productivity in the Euro Area |
title_full |
The effects of monetary policy on total factor productivity in the Euro Area |
title_fullStr |
The effects of monetary policy on total factor productivity in the Euro Area |
title_full_unstemmed |
The effects of monetary policy on total factor productivity in the Euro Area |
title_sort |
The effects of monetary policy on total factor productivity in the Euro Area |
author |
Luis, Pedro Neves Rebelo |
author_facet |
Luis, Pedro Neves Rebelo |
author_role |
author |
dc.contributor.none.fl_str_mv |
Duarte, João B. RUN |
dc.contributor.author.fl_str_mv |
Luis, Pedro Neves Rebelo |
dc.subject.por.fl_str_mv |
Monetary policy Total factor productivity High frequency identification Local projections Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Monetary policy Total factor productivity High frequency identification Local projections Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
This paper analyses the impact that Monetary Policy has on Total Factor Produc-tivity (TFP) in the Euro Area, by computing a utilization corrected TFP measure andobtaining impulse response functions by using Local Projections with a high frequencyidentification external instrument. It finds evidence of a negative relationship betweentightening monetary policy and aggregate TFP, being part of this effect explained by afall in capital utilization. A sample split shows that the response of TFP to a monetaryshock is twice as large during the pre crisis period, suggesting that the financial crisisaftermath had a considerable impact on this linkage. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-01-15 2020-01-03 2020-01-15T00:00:00Z 2021-01-03T01:30:39Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/masterThesis |
format |
masterThesis |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10362/104199 TID:202492052 |
url |
http://hdl.handle.net/10362/104199 |
identifier_str_mv |
TID:202492052 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799138017328234496 |