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occurred from 2000 through 2007 and describe how they affected the performance of the U.S. economy. Declining coefficients in …
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occurred from 2000 through 2007 and describe how they affected the performance of the U.S. economy. Declining coefficients in …
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"Post-1980 U.S. data trace out a stable long-run money demand relationship of Cagan's semi-log form between the M1-income ratio and the nominal interest rate, with an interest semi-elasticity below 2. Integrating under this money demand curve yields estimates of the welfare costs of modest...
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the US economy as it had previously; counterfactual simulations suggest that without this constraint, output would have …
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