Patrick Hurtgen

Monetary and Financial Spillovers: New Historical Evidence from Germany

Using newly identified exogenous variation in German monetary policy from 580 policy meetings between 1974 and 1998, we provide new evidence on the role of the exchange rate regime …

Are Tax Cuts Contractionary at the Zero Lower Bound? Evidence from a Century of Data

Popular New Keynesian macroeconomic models predict that cuts in various types of distortionary taxes are contractionary when monetary policy is constrained at the zero lower bound …

The Macroeconomic Effects of Monetary Policy: A New Measure for the United Kingdom