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benign international environment, this approach makes it unlikely that the economy will face a collapse in growth. But there … benign international environment, this approach makes it unlikely that the economy will face a collapse in growth. But there …
Persistent link: https://www.econbiz.de/10003539352
financial frictions. The political economy surrounding distributional consequences can sometimes lead to policy measures that …
Persistent link: https://www.econbiz.de/10010222156
, however, is that there seem to be certain "threshold" levels of financial and institutional development that an economy needs …
Persistent link: https://www.econbiz.de/10003831857
, however, is that there seem to be certain "threshold" levels of financial and institutional development that an economy needs …
Persistent link: https://www.econbiz.de/10012463732
served the economy well in terms of reducing its vulnerability to crises. By now, the capital account has become quite open …
Persistent link: https://www.econbiz.de/10012463989
the flexible price equilibrium. In this paper, we develop a twosector two-good closed economy new Keynesian model to study …
Persistent link: https://www.econbiz.de/10008810538
In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize … is high. We develop an open economy model with incomplete financial markets to show that headline inflation targeting …
Persistent link: https://www.econbiz.de/10011307888
aggregate welfare when the economy is hit by positive shocks to nontradable goods productivity or foreign interest rates. Fiscal …
Persistent link: https://www.econbiz.de/10011309046
the flexible price equilibrium. In this paper, we develop a two-sector two-good closed economy new Keynesian model to …
Persistent link: https://www.econbiz.de/10012462367
Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer payment and money-transfer systems, and a...
Persistent link: https://www.econbiz.de/10012256941