This paper reviews recent research that grapples with the question: What happens after an exogenous shock to monetary … exogenous shock to monetary policy. Nevertheless, there is considerable agreement about the qualitative effects of a monetary … policy shock in the sense that inference is robust across a large subset of the identification schemes that have been …

We argue that the vast bulk of movements in aggregate real economic activity during the Great Recession were due to … Great Recession. According to the model the observed fall in total factor productivity and the rise in the cost of working … Recession. …

construct a monetary model in which: i) the unemployed are worse off than the employed, i.e. unemployment is involuntary and ii … of the labor force and unemployment rate to these three shocks. …

This article characterizes the change in the nature of the money growth-inflation and unemployment …

the model using Bayesian techniques on Swedish data. Our main results are: i) A financial shock to entrepreneurial wealth … and GDP. ii) The marginal efficiency of investment shock has very limited importance when we match financial market data …. iii) Our model does not need any high frequency wage markup shocks to match the data. Furthermore, the labor supply shock …