Modelling monetary transmission in UK manufacturing industry

Tena, Juan de Dios ORCID: 0000-0001-8281-2886 and Tremayne, AR (2009) Modelling monetary transmission in UK manufacturing industry. Economic Modelling, 26 (5). pp. 1053-1066. ISSN 0264-9993

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Abstract

This paper studies the transmission of monetary policy to industrial output in the UK. In order to capture asymmetries, a system of threshold equations is considered. However, unlike previous research, endogenous threshold parameters are allowed to be different for each equation. Such an approach may be appealing from an economic point of view and is shown to be of importance after suitable econometric evaluation. Results show evidence of cross-sectional differences across industries and asymmetries in some sectors. These findings contribute to the debate about the importance of alternative economic theories to explain these asymmetries and support the use of a sectorally disaggregated approach to the analysis of monetary transmission.

Item Type:	Article
Depositing User:	Symplectic Admin
Date Deposited:	15 Sep 2015 14:54
Last Modified:	07 Dec 2024 13:10
DOI:	10.1016/j.econmod.2009.04.003
Related URLs:	Publisher
URI:	https://livrepository.liverpool.ac.uk/id/eprint/2026121