The name is absent



30


PEDRO PΛBLO ΛLVΛREZ LOIS


0,4

0,3

0,2

0,1

0

-0,1


-0,2


Impulse Responses to a 1% Shock in Money Growth Rate

1                3                5               7                9


Quarters

Figure 2a: Employment

Impact Effect due to a 1% Shock in Money Growth Rate

0,35


φ
ra

co


CO

E
о


.o
ra

φ

Q


0,3

0,25

0,2

0,15

0,1


0,05


Iiiiiiiiiiiiiiiiiiiiiiiiiiiiiii

0,95


0,65     0,72     0,78     0,83     0,86     0,89     0,92

Capacity Utilization Rate

Figure 2b: Employment



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