Dées, Stéphane; Pesaran, Hashem; Smith, Vanessa; … - European Central Bank - 2010
, demand and monetary policy shocks. Following the literature, we assume that the within country supply, demand and monetary … US monetary policy. JEL Classification: C32, E17, F37, F42 … policy shocks are orthogonal, though shocks of the same type (e.g. supply shocks in different countries) can be correlated …