realwirtschaftlich wirksamen, langfristig jedoch neutralen Geldpolitik inzwischen nahezu selbstverständlich akzeptiert zu sein …

least a partial responsibility on bank supervision. In the second chapter, we examined the effect of a technology shock and a … money shock in the context of an RBC model incorporating the Taylor rule as the Fed??s monetary policy. One thing … correlation between output and inflation appears to be positive and the response of our model economy to a shock is persistent …

particular, standard local projections identify responses that include an effect due to the persistence of the shock, while … projections and moving average representations. In particular, the inclusion of leads of the shock in local projections allows to … proyecciones locales estándar identifi can respuestas que incluyen un efecto debido a la persistencia del shock, mientras que las …

mit den Interventionserfahrungen von Emerging Markets. Geldpolitik in Emerging Markets zeichnet sich oftmals durch eine …

einer Dominanz der Geldpolitik als Angebotsschock erklärt werden. Zu einem großen Teil bleibt die identifizierte …, output decreases in most subsectors after a restrictive monetary shock. The sectors of electrical and electronic equipment … be explained by the fact that monetary policy works mainly as supply shock in some subsectors. But the identified price …