An alternative explanation of the price puzzle

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Monetary policy and exchange rate overshooting: Dornbusch was right after all* (2009, background): “One may argue (Giordani, 2004) that with the theoretical model of Svensson (1997) as a data generating process, rather than including output in levels, one should either include the output gap in the VAR, or the output gap along with the trend level of output.”
The "price puzzle" reconsidered (2004, background): “32 Giordani (2001) and Leeper and Roush (2002) study the price puzzle under nonrecursive identifying assumptions for monetary VARs.”
Identifying the interdependence between US monetary policy and the stock market (2005, unknown): “…that any potential cointegrating relationship between the variables will be implicitly determined in the model (see Hamilton 1994).13 However, Giordani (2004) has argued that if following the theoretical model set up in Svensson (1997) as a data 13 Based on the standard Augmented Dickey…”
Inference in structural vector autoregressions when the identifying assumptions are not fully believed: Re-evaluating the role of monetary policy in economic fluctuations (2018, unknown): “…+ [b s]′ xt−1 + u s t , (17) 14 Equations (17)-(19) can be motivated from the 3-variable macro models studied by Rotemberg and Woodford (1997), Lubik and Schorfheide (2004), Del Negro and Schorfheide (2004), Giordani (2004), Benati and Surico (2009), and Rubio-Ramirez, Waggoner, and Zha (2010).”