Browsing Norges Banks vitenarkiv by Author "Ulvedal, Pål"
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Estimating hysteresis effects
Furlanetto, Francesco; Robstad, Ørjan; Ulvedal, Pål; Lepetit, Antoine (Working Paper;13/2020, Working paper, 2020)In this paper we extend the standard Blanchard-Quah decomposition to enable fluctuations in aggregate demand to have a long-run impact on the productive capacity of the economy through hysteresis effects. These demand ...