I understand that these are static models, but when we talk about monetary policy and its effects on the economy, we are looking for dynamics. So the question is we are now not sure about the time frame, i.e., when do we expect to see these effects, and when does the economy start reverting back to the steady-state, i.e., the baseline.
Amazing as always, thank you prof!
Congratulations Professor Dixon. I am really happy for you!