The consumption-wealth channel: Monetary policy transmission in the case of Sweden
This paper examines to what extent the consumption-wealth channel has had an impact on household consumption as a response of monetary policy in the Swedish economy since 1994 when the repo rate was first introduced. Using a structural vector autoregressive model and Swedish data between 1994 Q2 and 2011 Q4, impulse response functions are used in order to trace out the effects of interest rate cha
