The effects of monetary policy in a small open economy : the case of Portugal
In this paper, I analyze the macroeconomic effects of monetary policy on the Portuguese economy. I show that a positive interest rate shock leads to: (i) a contraction of real GDP and a substantial increase of the unemployment rate; (ii) a quick fall in the commodity price and a gradual decrease of...
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| Format: | workingPaper |
| Language: | eng |
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2012
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| Online Access: | http://hdl.handle.net/1822/22489 |
| Country: | Portugal |
| Oai: | oai:repositorium.sdum.uminho.pt:1822/22489 |