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- Coefficients SOEs Ïy ÏÏ Ïcs Ïe AUS 0.64 0.70-3.00 0.10 [0.16;2.84] [0.19;2.51] [-8.48;-0.91] [0.02;0.50] CAN 0.63 0.60-0.90 0.08 [0.19;1.56] [0.19;1.86] [-2.65;-0.33] [0.02;0.31] NZ 0.94 0.81-1.35 0.06 [0.23;3.89] [0.23;5.83] [-7.50;-0.32] [0.01;0.40] NOR 0.41 0.64-2.47 0.11 [0.13;1.22] [0.16;2.52] [-10.21;-0.58] [0.03;0.45] SWE 0.27 0.94-0.74 0.06 [0.07;1.06] [0.26;2.09] [-2.32;-0.23] [0.02;0.19] UK 1.19 2.25-1.74 0.19 [0.33;3.90] [0.65;8.46] [-6.07;-0.57] [0.04;0.44] Table 5: Contemporaneous coefficients in SOE monetary policy equations using sample period from 2000:Q1 to 2019:Q4. Note: The entries in the table are the posterior median estimates and the entries in the brackets are the respective 68% probability intervals. K.2 Contemporaneous coefficients in US monetary policy equations.
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- Coefficients SOEs Ïy ÏÏ Ïe AUS 0.72 0.65 0.09 [0.24;2.20] [0.17;2.75] [0.02;0.35] CAN 0.99 1.32 0.16 [0.24;3.10] [0.37;3.63] [0.05;0.49] NZ 0.87 1.44 0.11 [0.24;3.99] [0.36;5.49] [0.03;0.46] NOR 0.62 1.31 0.16 [0.16;2.73] [0.34;5.80] [0.04;0.69] SWE 0.94 1.92 0.14 [0.21;4.01] [0.58;8.11] [0.04;0.64] UK 1.85 3.64 0.18 [0.54;7.48] [0.79;14.28] [0.05;0.72] Table 1: Contemporaneous coefficients in SOE monetary policy equations using full sample period from 1992:Q1 to 2019:Q4. Note: The entries in the table are the posterior median estimates and the entries in the brackets are the respective 68% probability intervals. I.2 Contemporaneous coefficients in US monetary policy equations.
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- Coefficients SOEs Ïy ÏÏ Ïe AUS 0.72 0.73 0.11 [0.19;2.77] [0.16;2.56] [0.02;0.45] CAN 1.16 1.42 0.24 [0.30;4.00] [0.46;4.36] [0.06;0.70] NZ 0.99 1.67 0.14 [0.29;3.80] [0.45;6.31] [0.04;0.56] NOR 0.79 1.80 0.20 [0.21;3.06] [0.46;6.93] [0.05;0.79] SWE 1.19 2.03 0.15 [0.31;4.65] [0.55;7.90] [0.03;0.72] UK 1.21 2.62 0.14 [0.30;5.12] [0.87;9.29] [0.03;0.65] Table 3: Contemporaneous coefficients in SOE monetary policy equations using shorter sample period from 1992:Q1 to 2008:Q3. Note: The entries in the table are the posterior median estimates and the entries in the brackets are the respective 68% probability intervals. J.2 Contemporaneous coefficients in US monetary policy equations.
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- Coefficients US/SOEs Ïyâ ÏÏâ Ïcsâ US/AUS 0.41 0.38-0.57 [0.11;0.87] [0.10;1.00] [-1.36;-0.19] US/CAN 0.40 0.39-0.59 [0.14;0.90] [0.11;1.00] [-1.38;-0.17] US/NZ 0.41 0.40-0.57 [0.12;0.99] [0.12;0.99] [-1.42;-0.15] US/NOR 0.43 0.38-0.55 [0.13;0.91] [0.10;0.97] [-1.33;-0.14] US/SWE 0.42 0.39-0.54 [0.12;0.98] [0.10;1.09] [-1.34;-0.16] US/UK 0.43 0.39-0.56 [0.13;0.93] [0.11;1.00] [-1.33;-0.15] Table 2: Contemporaneous coefficients in US monetary policy equations using full sample period from 1992:Q1 to 2019:Q4. Note: The entries in the table are the posterior median estimates and the entries in the brackets are the respective 68% probability intervals. J Robustness check 1 J.1 Contemporaneous coefficients in SOE monetary policy equations.
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- Coefficients US/SOEs Ïyâ ÏÏâ Ïcsâ US/AUS 0.43 0.48-0.55 [0.14;1.05] [0.16;1.61] [-1.38;-0.16] US/CAN 0.47 0.45 -0.65 [0.12;1.23] [0.10;1.10] [-1.86;-0.21] US/NZ 0.54 0.46-0.60 [0.15;1.39] [0.09;1.38] [-1.44;-0.15] US/NOR 0.40 0.46-0.53 [0.14;1.35] [0.12;1.40] [-1.44;-0.17] US/SWE 0.52 0.44 -0.62 [0.19;1.14] [0.11;1.17] [-1.72;-0.21] US/UK 0.47 0.45-0.59 [0.11;1.39] [0.10;1.39] [-1.70;-0.15] Table 6: Contemporaneous coefficients in US monetary policy equations using sample period from 2000:Q1 to 2019:Q4. Note: The entries in the table are the posterior median estimates and the entries in the brackets are the respective 68% probability intervals.
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- Coefficients US/SOEs Ïyâ ÏÏâ Ïcsâ US/AUS 0.50 0.67-0.99 [0.14;1.23] [0.18;1.74] [-2.02;-0.29] US/CAN 0.51 0.73-1.01 [0.16;1.24] [0.20;2.02] [-2.09;-0.31] US/NZ 0.53 0.76-0.98 [0.16;1.26] [0.20;2.05] [-2.11;-0.31] US/NOR 0.51 0.75-1.01 [0.15;1.19] [0.21;1.89] [-2.17;-0.30] US/SWE 0.49 0.73-1.01 [0.14;1.20] [0.20;1.84] [-2.12;-0.34] US/UK 0.50 0.72-0.96 [0.15;1.21] [0.21;1.88] [-2.12;-0.28] Table 4: Contemporaneous coefficients in US monetary policy equations using shorter sample period from 1992:Q1 to 2008:Q3. Note: The entries in the table are the posterior median estimates and the entries in the brackets are the respective 68% probability intervals. K Robustness check 2 K.1 Contemporaneous coefficients in SOE monetary policy equations.
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