Christiano, Lawrence J. (contributor); … - 2004 - [Elektronische Ressource]
to money supply or money
demand? The continued robust growth in the real, per capita monetary base is not consistent with …
the money supply interpretation. In 1931IV, the real monetary base stood 5 percent higher than it
hadin1931III.Then, over … absence of correlation between the real wage and output. That is to assume
that there are exogenous shocks to labor supply, i …