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Some alternative perspectives on macroeconomic theory and some policy implications

White, William R. - Federal Reserve Bank of Dallas - 2010

private and public, as well as other structural measures to raise the potential growth rate of the economy. Such measures …

Persistent link: https://www.econbiz.de/10008598684

Vehicle currency

Devereux, Michael B.; Shi, Shouyong - Federal Reserve Bank of Dallas - 2008

existence, the size of the vehicle currency economy, and the monetary policy followed by the vehicle currency's government. We …

Persistent link: https://www.econbiz.de/10005367962

Oil shocks through international transport costs: evidence from U.S. business cycles

Yilmazkuday, Hakan - Federal Reserve Bank of Dallas - 2011

The effects of oil shocks on output volatility through international transport costs are investigated in an open-economy ….S. economy by a Bayesian approach for moving windows of ten years. For model selection, the posterior odds ratios of the two …

Persistent link: https://www.econbiz.de/10009292928

A perspective on Mexico

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2006

in Mexico is a loss for the entire border economy, where so much of our growth is linked to expansion on the more …

Persistent link: https://www.econbiz.de/10010723078

How robust are popular models of nominal frictions?

Keen, Benjamin D.; Koenig, Evan F. - Federal Reserve Bank of Dallas - 2009

This paper analyzes three popular models of nominal price and wage frictions to determine which best fits post-war U.S. data. We construct a dynamic stochastic general equilibrium (DSGE) model and use maximum likelihood to estimate each model's parameters. Because previous research finds that...

Persistent link: https://www.econbiz.de/10008518849

Monetary policy strategy in a global environment

Moutot, Philippe; Vitale, Giovanni - Federal Reserve Bank of Dallas - 2009

Since the mid-1980s the world economy has gone through profound transformations of which the sources and effects are …

Persistent link: https://www.econbiz.de/10005498677

Financial globalization, financial frictions and optimal monetary policy

Faia, Ester; Iliopulos, Eleni - Federal Reserve Bank of Dallas - 2010

answer this question we lay down an open economy model where net lending toward the rest of the world is constrained by a … accumulation is subject to adjustment costs. We demonstrate that, although this economy can generate persistent current account …

Persistent link: https://www.econbiz.de/10008465685