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Browsing by Subject "Monetary systems"
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Title:The 'price puzzle' in the monetary transmission VARs with long-run restrictions
Author(s):KRUSEC, DejanDate:2010Type of Publication:ArticleAbstract:This study addresses the 'price puzzle' - a positive response of prices to monetary tightening in VAR models. By using long-run instead of the usual short-run restrictions on the US data including output, prices and interest ...