Lo, Ming Chien (contributor); Piger, Jeremy Max (contributor) - 2003 - [Elektronische Ressource], rev.
contains three variables, the Federal Funds rate, the logarithm of real Gross
Domestic Product (GDP) and the logarithm of the … GDP price deflator.
9
To identify the policy
shock we make the assumption that monetary policy shocks do not affect … (Campbell and Perron, 1991). Indeed, Clark (1987) finds evidence of a large
v
g115
for U.S. real GDP using an univariate …