Ehrmann, Michael; Fratzscher, Marcel; Gürkaynak, Refet S. - 2007
counterparts, but they also contain less information as they are preceded by
announcements by each German state’s inflation …, and we build on their analysis here. In particular,
in standard macroeconomic models in which the steady-state inflation … within a reasonable time to steady state after a macroeconomic shock, so that these
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shocks have only transitory effects …