Tervala, Juha (contributor) - 2007
goods is a key variable in determining
the strength of the expenditure switching e�ect. Thus, I show that a decline
in … fortworeasons. As shownbyObstfeldandRogo�
(1995, 1996), it is a key variable in determining the exchange rate response
and it also … employment (or any other endoge-
nous variable) is not independent of monetary policy. Dotsey (2002), Gali
(1999), (2003) and …