Aguiar, Álvaro; Ribeiro, Ana Paula - Faculdade de Economia, Universidade do Porto - 2008
the channels through which the effects of the reform impinge on the effectiveness of monetary policy, we add stylized … reform is modeled as a structural change inducing a permanent shift in the flexible prices unemployment and output levels …. The reform-induced adjustments, under different sources of macroeconomic and reform implementation inertias, are then …