How Has the Monetary Transmission Mechanism Evolved Over Time?

Jean Boivin, Michael T. Kiley, Frederic S. Mishkin

NBER Working Paper No. 15879
Issued in April 2010

---- Acknowledgements -----

We thank Dalibor Stevanovic and Dane Vrabac for excellent research assistance. Our analysis benefited substantially from the comments of Ray Fair, Ben Friedman, and participants in the Key Developments in Monetary Economics conference held at the Federal Reserve Board in October 2009. Boivin acknowledges financial support from the National Science Foundation (SES-0518770) and the Social Sciences and Humanities Research Council of Canada. The views expressed are those of the authors and do not necessarily reflect the views of any institutions with which they are affiliated, nor of the National Bureau of Economic Research.

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