Carmignani, Fabrizio; Colombo, Emilio; Tirelli, Patrizio - School of Economics, University of Queensland - 2009
Colombo, Patrizio Tirelli, School of Economics Discussion Paper No. 394, June 2009,
School of Economics, The University of … expenditure (Persson and Tabellini, 2003, 2004) and adversely afiect the
business cycle (Tornell and Lane, 1999).
We reconsider … markets, the
exchange rate regime). Since monetary policy has powerful efiects over the
business cycle, our analysis will also …