Dennis, Richard J. (contributor); Leitemo, Kai (contributor) - 2006
FEDERAL RESERVE BANK OF SAN FRANCISCO
WORKING PAPER SERIES
Working Paper 2006-10
http://www.frbsf.org/publications/economics … them to a business cycle
model of the genre widely used to study monetary policy under rational expectations. A
key nding … distortions is for the
central bank to become more activist in its response to shocks. Finally, with the business
cycle model …