The Long Run Effects of Monetary Policy

Join us for a presentation by Prof Alan Taylor (UC Davis) on the persistent effects of monetary policy on the productive capacity of the economy, based on his work with Oscar Jorda and Sanjay Singh. They adopt a novel approach to identifying monetary policy innovations using the trilemma of international finance; use merged data from two new long-sample databases; and employ econometric methods that are robust for long-horizon estimates. They find monetary policy to have effects that are economically and statistically significant and last for over a decade. They reconcile the empirical findings with a New Keynesian model with endogenous TFP growth.

This event is part of our Macro, Finance and Emerging Economies Webinar Series, hosted in collaboration with the SEACEN Centre. 
 

About the Panelist:

Alan M. Taylor, Professor of Economics and Finance, University of California, Davis

Prof Alan M. Taylor is Professor of Economics and Finance at the University of California, Davis. His work in finance, macroeconomics, international economics and economic history is widely published in top journals. He is a Research Associate at NBER, a Research Fellow at CEPR and Co-Editor of the Journal of International Economics.

Webpage: https://amtaylor.ucdavis.edu/