Scholl, Almuth; Uhlig, Harald - Society for Computational Economics - SCE - 2006
restrictions on the exchange rate to leave the key question as open as possible. Importantly, our identification scheme avoids the … “price puzzleâ€. We find that the puzzles regarding the exchange rate are still there, but that the quantitative … shocks, we find a considerable uncertainty regarding the initial reaction of the exchange rate. Quantitatively, monetary …