The Long-Run Effect of Permanent Disinflations
This paper looks at the long term output effect of those monetary policies aimed at reducing inflation from its peak by late seventies, in nine major OECD countries. The estimated effect depends on the way nominal shocks are identified. Alternatively to the cross-country regression analysis we estimate a structural VAR model in output, inflation and unemployment.
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|Date of creation:||1998|
|Contact details of provider:|| Web page: http://www.bde.es/|
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