Sims, Christopher A. - 2007
Time Series Using Real Business Cycle Model Priors,”
Journal of Monetary Economics, 34(3), 497–510.
LEEPER, E. M., C. A … month-to-month business of choosing monetary policy actions in
the light of current information was trivial or irrelevant … monetary policy existed,
but they explained little of observed business cycle variation.
• Output responds with a lag, and …