• econometria
• modelli a fattori
• politica monetaria

With this project we propose to analyse the monetary policy transmission mechanism in the
United States using structural dynamic factor models. More precisely, we would like to investigate
the impact that policy has on financial and monetary aggregates in order to find evidence
of the existence of a broad credit channel, thought as an amplification factor of the more traditional
interest-rate and exchange-rate channels through which monetary policy is assumed to
affect the real economy.