Doepke, Matthias (contributor) - 2002 - [Elektronische Ressource]
rise in interest rates and a persis-
tent fall in output. Standard monetary business cycle models can account for the …: Department of
Economics, UCLA, 405 Hilgard Ave, Los Angeles, CA 90095. E-mail: doepke@econ.ucla.edu.
1 Introduction
In recent … the business sector. Retained earnings serve to isolate the households from
the direct impact of monetary disturbances. If …