Christiano, Lawrence J. (contributor); … - 2004 - [Elektronische Ressource]
markets, labor markets, and the banking system. As
a result, this episode constitutes a natural laboratory for studying a … model like ours. Second, there
is widespread interest in understanding whether monetary policy authorities in a low-interest-rate … authorities in the 1930s.
The counterfactual monetary policy that we study temporarily expands the growth rate in the …