Publication
Feb 2009
This paper presents estimates for a series of structural shocks in the context of a smaller-scale New Keynesian labor matching model applied to the period after the World War II. According to the author, shocks to monetary policy play a predominant role during the Volcker episode and some role during the deflationary late-1940s recession but much smaller roles during other episodes.
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English (PDF, 52 pages, 611 KB) |
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Author | Christopher Phillip Reicher |
Series | Kiel Institute Working Papers |
Issue | 1496 |
Publisher | Kiel Institute for the World Economy |
Copyright | © 2009 Kiel Institute for the World Economy |