Ascari, Guido; Ropele, Tiziano - Dipartimento di Scienze Economiche e Aziendali, … - 2010
When used to examine disinflation monetary policies, the current workhorse dynamic stochastic general equilibrium model of business cycle fluctuations is able to quantitatively account for the main stylized facts in terms of recessionary effects and sacrifice ratio. We complement the...