Kose, M. Ayhan (contributor); … - 2008
—instead, we view them as capturing
the effects of many types of common shocks, including technology shocks, monetary policy … analysis of monetary policy.
6
common to all variables in each country; and (iv) an idiosyncratic component for each … from “the new economy” driven changes to
the more effective use of monetary policy.
12
precisely. The fluctuations …