Dittmar, Robert; Gavin, William T.; Kydland, Finn E. - Federal Reserve Bank of St. Louis - 2004
from trend. This paper shows that a flexible-price general equilibrium business cycle model with money and a central bank ….
This paper shows that a flexible-price, general-equilibrium business cycle model
in which monetary policy shocks have … of monetary policy are large or small.
Based on Gavin and Kydland (1999), our real business cycle model has a
shopping …