Are the Effects of Monetary Policy Shocks Big or Small?
NBER Working Paper No. 17034
---- Acknowledgments ----
I am grateful to Steven Davis, two anonymous referees, Francesco Bianchi, Yuriy Gorodnichenko, David Romer, John Leahy, Serena Ng, and Tara Sinclair for helpful comments as well as to the Computational Science Cluster (SciClone) at the College of William and Mary for computational support. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.