Dennis, Richard J. (contributor) - 2005
Working Paper 2004-17
http://www.frbsf.org/publications/economics/papers/2004/wp04-17bk …; Taylor, 1999). They are also used to study business cycle dynamics, and the
importance of various rigidities for generating … and to the state of the business
cycle, and is closely related to the specification studied by Clarida, Galí, and Gertler …