Lo, Ming Chien (contributor); Piger, Jeremy Max (contributor) - 2003 - [Elektronische Ressource], rev.
; LL
J
j
j
iji g229
g61
g215g61
1
,
)( g103g103 (5)
where
t
y is the log level of output,
t
x is a scalar variable … measuring monetary policy, and
t
S is
a regime-indicator variable taking on the values 0 or 1.
Ignoring
t
x in equation (4 …-components
model with a monetary policy variable,
t
x . We assume that monetary policy has no long run
real effect, and thus allow
t …