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32


PEDRO PABLO ALVAREZ LOIS


Impulse Responsesto a 1% Shock in Money Growth Rate

Figure 4a: Capital-Labor Ratio


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


0,65     0,72     0,78     0,83     0,86     0,89     0,92     0,95

Capacity Utilization Rate

Figure 4b: Capital-Labor Ratio



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