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Venezuela. Based on an annual sample during 1961-2001, the author finds that the real GDP responds positively to a shock to real … M2 , goverment déficit spending, exchange rate depreciation, and the lagged output and negatively to a shock to the …
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criteria: determinacy of rational-expectations equilibrium and convergence to steady state after a shock. The study concludes …
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Macroeconomists are increasingly using a New IS-LM model to discuss the economy's response to shocks and the design of monetary policy rules. This new model has better microfoundations than earlier IS-LM models and explicitly incorporates expectations about future economic conditions. Price...
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We deal with the evolutions of monetary conditions in Romania before and during the economic crisis, and the extent to which GDP shocks are related to these conditions. The results confirmed the essential role of interest rate, credit and exchange rate in this respect, which underlines the...
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