Benati, Luca (contributor) - 2007
; Lucas critique; European Monetary System.
JEL classification: E32, E47, E52, E58
5
ECB
Working Paper Series No 769 …–which, it is important to stress, is not vul-
nerable to the Lucas critique, because we are only manipulating shocks–the Great … alternative sets of counterfactual simulations which are,
instead, vulnerable to the Lucas critique.
4.2.2 Bringing the Monetary …