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Fredrik NG Andersson. Photo.

Fredrik N G Andersson

Associate professor

Fredrik NG Andersson. Photo.

A Study of the Romer and Romer Monetary Policy Shocks Using Revised Data

Author

  • Fredrik N G Andersson
  • Josefin Kilman

Summary, in English

Romer and Romer (2004) propose a simple method to estimate monetary policy shocks using forecasts and real-time data. However, such data is not always (publicly) available, especially in a historical context. We explore the consequences of using revised data instead of the original forecast and real-time data when estimating policy shocks using the Romer and Romer framework. To this end, we estimate policy shocks for the same period as Romer and Romer. We find that using revised data has little impact on actual shock estimates, and the estimated effects of monetary policy shocks are similar.

Department/s

  • Department of Economics
  • Centre for Economic Demography

Publishing year

2021

Language

English

Publication/Series

Working Papers

Issue

2021:19

Document type

Working paper

Topic

  • Economics

Keywords

  • Monetary policy shocks
  • prices
  • GDP
  • E20
  • E30
  • E40
  • E50
  • E60

Status

Published