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COVID-19 has thrown a stark, harsh light on the world’s economy and has had a significant impact on monetary policies worldwide. In China, the economy is entering a new normal, and the effect of monetary policy on agricultural commodity prices has induced noticeable structural changes. The...
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prices. We show that the standard practice of estimating the speed of adjustment of such variables with partial-adjustment … speed of adjustment inferred from aggregates of a small number of agents is likely to be close to instantaneous. While …, even after aggregating investment across all establishments in U.S. manufacturing, the estimate of its speed of adjustment …
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