Replication data for: Monetary Policy Surprises, Credit Costs, and Economic Activity

Mark Gertler & Peter Karadi
We provide evidence on the transmission of monetary policy shocks in a setting with both economic and financial variables. We first show that shocks identified using high frequency surprises around policy announcements as external instruments produce responses in output and inflation that are typical in monetary VAR analysis. We also find, however, that the resulting \"modest\" movements in short rates lead to \"large\" movements in credit costs, which are due mainly to the reaction of...
This data repository is not currently reporting usage information. For information on how your repository can submit usage information, please see our documentation.