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Global Monetary and Financial Spillovers : Evidence from a New Measure of Bundesbank Policy Shocks
Cloyne, James S.; Hürtgen, Patrick; Taylor, Alan M. - 2022
monetary contraction. But given Germany's central role in the European Monetary System (EMS), we can also shed light on debates …
Persistent link: https://www.econbiz.de/10014238817
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The time for austerity : estimating the average treatment effect of fiscal policy
Jordà, Òscar; Taylor, Alan M. - 2013
Persistent link: https://www.econbiz.de/10009791688
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The time for austerity : estimating the average treatment effect of fiscal policy
Jordà, Òscar; Taylor, Alan M. - 2014
After the Global Financial Crisis a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty of identifying multipliers from observational data. This paper...
Persistent link: https://www.econbiz.de/10010463587
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Stuck on gold : real exchange rate volatility and the rise and fall of the gold standard
Chernyshoff, Natalia; Jacks, David S.; Taylor, Alan M. - 2005
Persistent link: https://www.econbiz.de/10003223073
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The Time for Austerity : Estimating the Average Treatment Effect of Fiscal Policy
Jordà, Òscar - 2013
After the Global Financial Crisis a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty of identifying multipliers from observational data. This paper...
Persistent link: https://www.econbiz.de/10013076565
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Stuck on Gold : Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard
Chernyshoff, Natalia - 2010
thought not, and theory offers ambiguous messages. A hard exchange-rate regime such as the gold standard might limit monetary … absorption in a world of real shocks and nominal stickiness. A simple model shows how a lack of flexibility can be discerned in …
Persistent link: https://www.econbiz.de/10012761895
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Tariff Reductions, Entry, and Welfare : Theory and Evidence for the Last Two Decades
Caliendo, Lorenzo - 2015
We show in a multi-sector, heterogeneous-firm trade model that the effect of tariffs on entry, especially in the presence of production linkages, can reverse the traditional positive optimal tariff argument. We then use a new tariff dataset, and apply it to a 189-country, 15-sector version of...
Persistent link: https://www.econbiz.de/10013010722
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Financial Crises : A Survey
Sufi, Amir; Taylor, Alan M. - 2021
Financial crises have large deleterious effects on economic activity, and as such have been the focus of a large body of research. This study surveys the existing literature on financial crises, exploring how crises are measured, whether they are predictable, and why they are associated with...
Persistent link: https://www.econbiz.de/10013215573
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Monetary Sovereignty, Exchange Rates, and Capital Controls : The Trilemma in the Interwar Period
Obstfeld, Maurice - 2012
disorder in the world economy. The interwar disorder often is linked to policies inconsistent with the constraint of the open … yield. This historical analytic narrative is compelling with significant ramifications for today's world, if true but … empirically controversial. We apply theory and empirics to the interwar data and find strong support for the logic of the trilemma …
Persistent link: https://www.econbiz.de/10012755788
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Stuck on Gold : Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard
Chernyshoff, Natalia - 2005
thought not, and theory offers ambiguous messages. A hard exchange-rate regime such as the gold standard might limit monetary … absorption in a world of real shocks and nominal stickiness. A simple model shows how a lack of flexibility can be discerned in …
Persistent link: https://www.econbiz.de/10012466876