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Página 220
that the systematic component of monetary policy since the mid - 1960's can account for the reduced - form correlation of real output and the nominal bill rate . We then perform counterfactual monetary - policy experiments with the ...
that the systematic component of monetary policy since the mid - 1960's can account for the reduced - form correlation of real output and the nominal bill rate . We then perform counterfactual monetary - policy experiments with the ...
Página 237
yields a small improvement in the bill - rate variance at the expense of a substantial deterioration in the sacrifice ratio and the variance of inflation and output . Movements toward the other two corners of the policy grid yield ...
yields a small improvement in the bill - rate variance at the expense of a substantial deterioration in the sacrifice ratio and the variance of inflation and output . Movements toward the other two corners of the policy grid yield ...
Página 501
not endogenously generate business - cycle dynamics in output . Similar results apply to four of the other five models in this group . The Benhabib et al . ( 1991 ) model is the only one in this group that has a strong propagation ...
not endogenously generate business - cycle dynamics in output . Similar results apply to four of the other five models in this group . The Benhabib et al . ( 1991 ) model is the only one in this group that has a strong propagation ...
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Índice
Evidence? | 17 |
The Effect of Institutions on Economic Behavior | 409 |
Theory of Contracts | 432 |
Direitos de autor | |
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aggregate analysis assume average bank behavior benefits capital central changes choice coefficient condition consumption contract correlation cost countries decision demand depends discussion Economic effect employment equal equation equilibrium estimates evidence example expected firms function given growth higher households important income increase individual industry inflation interest International issue Journal labor less lower marginal mean measure ment monetary Notes observations output percent period player political population positive possible preferences Press probability problem question ratio reduce regression relative reported Research response Review risk rules sample schooling sector shocks significant social spending standard statistically studies suggests Table theory tion trade transfer United University utility variables wage welfare workers