{"title":"Monetary Transmission: Testing the Post-Keynesian View After the Great Recession","authors":"Osama D. Sweidan","doi":"10.3790/AEQ.63.3.233","DOIUrl":null,"url":null,"abstract":"Abstract The paper presents an empirical investigation of the hypothesis that the Post-Keynesian (PK) view of structuralist endogeneity continues to explain the interest rate movements following the Great Recession of 2007–2009. We test the hypothesis by analyzing monthly data from the U.S. economy covering the period 2009:07 to 2016:05 using the unrestricted vector autoregressive (VAR) model and the Granger causality tests. The findings from our paper support the structuralist PK view, which indicates the importance of the interest rate channel of monetary transmission. JEL classifications: E52, E58","PeriodicalId":36978,"journal":{"name":"Applied Economics Quarterly","volume":"63 1","pages":"233-257"},"PeriodicalIF":0.0000,"publicationDate":"2017-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Applied Economics Quarterly","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3790/AEQ.63.3.233","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"Economics, Econometrics and Finance","Score":null,"Total":0}
引用次数: 0
Abstract
Abstract The paper presents an empirical investigation of the hypothesis that the Post-Keynesian (PK) view of structuralist endogeneity continues to explain the interest rate movements following the Great Recession of 2007–2009. We test the hypothesis by analyzing monthly data from the U.S. economy covering the period 2009:07 to 2016:05 using the unrestricted vector autoregressive (VAR) model and the Granger causality tests. The findings from our paper support the structuralist PK view, which indicates the importance of the interest rate channel of monetary transmission. JEL classifications: E52, E58
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