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In this paper the interest rate-exchange rate nexus and the effectiveness of interest rate defence are investigated theoretically and empirically. We construct a simple theoretical model by incorporating Taylor rule in the model proposed by Jeanne and Rose (2002). Mixing the macroeconomic theory...
Persistent link: https://www.econbiz.de/10005062695
Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.
Persistent link: https://www.econbiz.de/10010724943
quantitatively three potential determinants of the U.S. external imbalances in the last three decades: productivity growth …, demographic factors, and fiscal policy. The results suggest that (1) productivity growth differentials are the main driving force …
Persistent link: https://www.econbiz.de/10005726628
involving U.S. inflation and GDP growth. Empirical results suggest that the number of change points is larger than previously …
Persistent link: https://www.econbiz.de/10002521761
Persistent link: https://www.econbiz.de/10001751995
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economies of the G7 countries. We first prove that nominal interest and inflation rate can be better represented as being broken …
Persistent link: https://www.econbiz.de/10005556324
Persistent link: https://www.econbiz.de/10001495358
This paper examines how the scale and composition of public debt can affect economies that implement a combination of “passive” monetary policy and “active” fiscal policy. This policy configuration is argued to be of both historical and contemporary interest in the cases of the U.S. and...
Persistent link: https://www.econbiz.de/10009320709