Creel, Jérôme (contributor); Hubert, Paul (contributor) - 2008
’. Consequently, deviations of variables from their steady-state values would be
minimal. Policy flexibility after a shock, insofar … as it cushions the shock and helps variables
to converge towards the steady-state, produces th
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11
Within a setting … monetary policy shock produces a “price
puzzle” and a lower output gap, except in Sweden where the immediate, though temporary …