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33 p, 411.2 KB On the identification of monetary (and other) shocks / Menner, Martin ; Rodríguez Mendizábal, Hugo ; Universitat Autònoma de Barcelona. Unitat de Fonaments de l'Anàlisi Econòmica ; Institut d'Anàlisi Econòmica
The purpose of this paper is twofold. First, we construct a DSGE model which spells out explicitly the instrumentation of monetary policy. The interest rate is determined every period depending on the supply and demand for reserves which in turn are affected by fundamental shocks: unforeseeable changes in cash withdrawal, autonomous factors, technology and government spending. [...]
2006 (Working papers ; 650.05)  

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