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For simplicity, suppose the natural level of output is constant. Each period lasts a year. Interest rates and ination are expressed in percentage points. The
For simplicity, suppose the natural level of output is constant. Each period lasts a year. Interest rates and ination are expressed in percentage points. The parameter values are given in Table 2. )7 50 0.60 7r* 2 9\" 1 p 2 93/ 0.20 a 1 Table 2: DASDAD model Benchmark Parameter Values
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