The name is absent



36


PEDRO PABLO ALVAREZ LOIS


Impulse Responses to a 1% Shock in Money Growth Rate

φ
ra
co


φ
co
E


-1

-2

1

3

7

9


5

Quarters

Figure 8a: Underused Resources

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

-0,5


-2


-1

-1,5


Iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii

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

Capacity Utilization Rate

Figure 8b: Underused Resources



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