Wright, Jonathan H. - 2003
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International Finance Division, Board of Governors of the Federal Reserve System, Washington
DC 20551. I am grateful to Ben … Bernanke, David Bowman, Jon Faust, Matt Pritsker and Pietro
Veronesi for helpful comments, to Jeremy Rudd for providing me … (Stock and Watson (1999, 2002b) and Bernanke and Boivin (2003)). Stock
and Watson (2001, 2002a) however argue that the best …