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Start at the steady state. At some t=0 the economy is hit by a one time unanticipated shock z_0 >0. Suppose that ho = 0.

Start at the steady state. At some t=0 the economy is hit by a one time unanticipated shock z_0 >0. Suppose that ho = 0. Use the Euler equation to interpret the impact of such shock on the stock of durables and on the quantity of labor

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