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). Analyses are based on the Strucutral VAR (SVAR) models of the monetary transmission mechanism, estimated using monthly data … between monetary policy, employment, and unemployment. According to the obtained estimates monetary policy shocks invoked … lagged, hump‑shaped reactions of output, employment and unemployment in each of the analysed countries. …
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An n-variable structural vector auto-regression (SVAR) can be identified (up to shock order) from the evolution of the … process. I propose a new identification argument that identifies the SVAR up to shock orderings using the autocovariance …
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Monetary DSGE models are widely used because they fit the data well and they can be used to address important monetary policy questions. We provide a selective review of these developments. Policy analysis with DSGE models requires using data to assign numerical values to model parameters. The...
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