years after a nominal shock hits the economy. The long-run effect of a monthly one standard deviation nominal shock on … indicates that the nominal shock plays a significant role in explaining the depreciation in nominal MNT exchange rate over the … last three decades. Our recommendation is to stop “cash handling” policy, minimize monetary shock, and coordinate fiscal …

short and long-term impact of an exchange rate shock on inflation along the distribution chain in the presence of … shock to a maximum of around 66% in the first year. The equivalent figures on the inflation of producer goods go from 13% to …

that ERPT changes with the kind of shock and the monetary policy response to it. …

postulated – a country risk premium shock, an inflation rate differential shock and a forward market shock. Long run restrictions …

the price level to a temporary risk shock are permanent. Our theoretical discussion shows that adopting a credible long …

longer have options of using monetary policy to respond to local conditions. In fact, a common exchange rate shock, in the …

find that (i) the US economy is well described by a number of structural shocks between two and five. Focusing on the four-shock …