Bernanke, Ben S.; Gertler, Mark; Waston, Mark - C.V. Starr Center for Applied Economics, Department of … - 1997
Macroeconomic shocks such as wil price increases induce a systematic (endogenous) response of monetary policy. We develop a VAR-based technique for decomposing the total economic effects of a given exogenous shock into the portion attributable directly to the shock and the part arising from the...