Blar i Centre for Applied Macro- and Petroleum economics (CAMP) på emneord "Structural Change"
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Monetary policy when export revenues drop
(CAMP Working Paper Series;04/2022, Working paper, 2022-11)We study how monetary policy should respond to shocks which permanently alter the steady state structure of the economy. In such a case monetary policy affects not only the short run misallocations due to nominal rigidities, ...