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Are the Effects of Monetary Policy Shocks Big or Small?

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Figure

Figure 1: The Contribution of Monetary Policy Shocks to Business Cycle Fluctuations
Figure 2: Impulse Responses of Macroeconomic Variables to Monetary Policy Shocks
Figure 3: Identified Monetary Policy Shocks from each Approach
Figure 4: Impulse Responses to Monetary Policy Shocks using Single Equation Approach
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