Belaygorod, Anatoliy (contributor); … - 2007 - Rev.
standard macroeconomic models to simulate a Great Depression
event.
5
propagation mechanism for monetary policy neglect and … terms of an output gap and we follow many previous studies by using the
Hodrick and Prescott (1997) fllter to use a … to exist. Then, a reasonable choice for the prior mean is 1.5 due
to the fact that previous studies flnd that the …