Article ID Journal Published Year Pages File Type
965961 Journal of Macroeconomics 2009 14 Pages PDF
Abstract
We find that, if inertias are present, monetary policy affects the adjustment path following reform implementation. In general, the more expansionary (or the less contractionary) the policy is, the faster the recovery to the new steady-state equilibrium is, and therefore the lower the transition costs are.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Authors
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