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Discuss the Significance of the Work of David Romer and Christina

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Essay

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.


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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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