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Discuss the significance of the work of David Romer and Christina Romer that identified six independent monetary policy shifts after 1960 in which the announcement of a contractionary monetary policy was followed by a decline in output.
Cash Flows
The full extent of money transactions processed by a business, considerably affecting its ability to liquidate assets.
Financial Assets
Assets that derive value because of a contractual claim, such as stocks, bonds, bank deposits, and other investments.
Future Cash Flows
The projected income and expenditures that a company expects to generate over a forthcoming period.
Legal Documents
Official papers that indicate agreement to terms, rights, and responsibilities, enforceable by law.
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