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- W1971013908 abstract "We identify the effects of monetary policy shocks on macroeconomic variables in VARs using the Divisia M4 measure of money as the policy indicator variable. We obtain theoretically sensible responses—whether or not a commodity price index is included. Thus, we eliminate the well-known empirical puzzles from the VAR by a novel choice in a policy variable, rather than the usual attachment of an ad hoc variable." @default.
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- W1971013908 date "2014-08-01" @default.
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- W1971013908 title "Solving the price puzzle with an alternative indicator of monetary policy" @default.
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- W1971013908 doi "https://doi.org/10.1016/j.econlet.2014.05.012" @default.
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