Browsing Faculté des arts et des sciences – Département de sciences économiques by Subject "persistance endogène"
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Habit Formation and the Persistence of Monetary Shocks
(Université de Montréal. Département de sciences économiques., 2002)This paper studies the persistent effects of monetary shocks on output. Previous empirical literature documents this persistence, but standard general equilibrium models with sticky prices fail to generate output responses beyond the duration of ...