Research
Investigating Monetary and Macroeconomic Policy in the Bretton Woods Era: Evidence From France
Abstract
We attempt to develop a new methodology of inquiry in order to assess the effects of monetary policy during the Bretton Woods Era. Building on the data and the findings of Monnet (2014) on monetary policy in France in the period 1946-1972, we adopt the Local Projections Model (LPM) developed by Jorda (2005) in order to obtain multiple impulse-response functions of endogenous real and monetary macroeconomic variables to domestic and foreign monetary policy shocks. Our results are broadly consistent with a standard open-economy Mundell-Fleming model and confirm the consensus view on monetary policy implementation in that period.
How to Cite:
Casalena, F., Aggarwal, U., Marshall, C., Tapak, T. and Leitloff, P.M., 2020. Investigating Monetary and Macroeconomic Policy in the Bretton Woods Era: Evidence From France. Rationale, 2, pp.69–94.
Published on
20 Jul 2020.
Peer Reviewed
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