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Demand Side Hysteresis in Finland - What Can We Learn from SVARs?
Hao, Otso; Keränen, Henri
Economic Policy Council Background Report (Talouspolitiikan arviointineuvosto, 26.01.2022)We study whether aggregate demand shocks have long-run effects on output and employment using data for Finland and a number of other European economies. We use a recently proposed identification strategy that combines sign ...