We introduce shocks to the availability of US dollar funding for non-US financial intermediaries in a two-country New Keynesian model with financial frictions. Such dollar shortages lead to uncovered interest rate parity deviations and have a significant negative effects on the macroeconomy....

SAIIA is pleased to invite you to a webinar previewing the upcoming special issue of the

Do sanctions strengthen the targeted regime? I analyze the 2014 imposition of Western sanctions on Russia and its impact on voting. The United States and the European Union introduced targeted measures against Russian entities and individuals related to President Putin’s regime. Using polling...

The recent trade disputes and the technological rivalry between the US and China make the effects of trade policy one of the most relevant economic subject areas. We employ a multi-country, multi-sector general equilibrium modelling framework with imperfect competition and heterogeneous firm...

We present evidence that the rise in inflation in Japan since 2014 is a result of a hidden stagflation: the relative prices of durable consumption and ICT investment goods stopped declining, reflecting technology stagnation and exerting an inflationary pressure on the economy and; the real side...

Focus: the use of high-dimensional data. Advanced analytics techniques, such as the analysis of large and unstructured novel data sources, or the application of techniques derived from machine learning and artificial intelligence, offer new insights into problems in economics and finance. These...

The paper explains historical quarterly real 3-month US Treasury bill interest rates in the United States economy from 1975Q1-2020Q4. It extends the standard asset pricing model through fundamentals plus a user-cost wedge. The wedge arises from the consumer optimally avoiding the inflation tax...

Topics: - Global inflation and the natural rate of interest: understanding drivers, persistence, and longer-term outlook; - Global commodity cycle; - Global spillovers from unconventional monetary policies, tapering, and central bank communications; - International monetary policy interaction and...

The aim of this meeting is to discuss recent research in the area of transport and infrastructure economics. The meeting will focus on issues related to pricing, investment and competition, but research papers in other areas of transport economics and infrastructure analysis, both from empirical...

The conference will focus on data, digitalization, decentralized finance, central bank digital currencies and the future of money. A distinguished group of senior representatives from the public and private sectors as well as prominent academic thought leaders will discuss the key issues around...