Monetary policy is generally regarded as a central element in the attempts of policy makers to attenuate business-cycle fluctuations. According to the New Keynesian paradigm,...
We propose a simple method to help researchers develop quantitative models of economic fluctuations. The method rests on the insight that many models are equivalent to a prototype growth model with ti
Abstract of associated article: I estimate the transmission of a common euro area monetary policy shock across individual euro area economies. To do so, I develop a global VAR model in which all euro
