Are State and Time Dependent Models Really Different?
收藏NBER2016-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w22361
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资源简介：
Yes, but only for large monetary shocks. In particular, we show that in a broad class of models where shocks have continuous paths, the propagation of a monetary impulse is independent of the nature of the sticky price friction when shocks are small. The propagation of large shocks instead depends
提供机构：
美国国家经济研究局
创建时间：
2016-06-01
