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Gopinath, Gita; Itskhoki, Oleg - Federal Reserve Bank of Boston - 2010

reset-price inflation to exchange rate shocks exhibits significant persistence. Individual import prices, conditional on … imports, like that for consumer prices, exhibits little persistence. Competitor prices affect firm pricing, and exchange rate … pass-through into import prices is greater in response to trade-weighted, as opposed to bilateral, exchange rate shocks. We …

Persistent link: https://www.econbiz.de/10008598706

The liquidity trap, the real balance effect, and the Friedman rule

Ireland, Peter - Federal Reserve Bank of Boston - 2005

This paper studies the behavior of the economy and the efficacy of monetary policy under zero nominal interest rates, using a model with population growth that nests, as a special case, a more conventional specification in which there is a single infinitely lived representative agent. The paper...

Persistent link: https://www.econbiz.de/10005379805

The real exchange rate and foreign direct investment in the United States: relative wealth vs. relative wage effects

Klein, Michael W.; Rosengren, Eric S. - Federal Reserve Bank of Boston - 1992

There has been a significant correlation between inward foreign direct investment in the United States and the U.S. real exchange rate since the 1970s. Two alternative reasons for this relationship are that the real exchange rate affects the relative cost of production and that the real exchange...

Persistent link: https://www.econbiz.de/10005379815

Job creation, job destruction, and international competition: a literature review

Klein, Michael W.; Schuh, Scott; Triest, Robert K. - Federal Reserve Bank of Boston - 2002

This paper is a chapter in our forthcoming monograph, Job Creation, Job Destruction, and International Competition (W.E. Upjohn Institute, 2003), and expands on the ideas advanced in Klein, Schuh, and Triest (2003). The chapter provides an extensive review of the literature that studies the...

Persistent link: https://www.econbiz.de/10005713305

On the trade impact of nominal exchange rate volatility

Tenreyro, Silvana - Federal Reserve Bank of Boston - 2003

What is the effect of nominal exchange rate variability on trade? I argue that the methods conventionally used to answer this perennial question are plagued by a variety of sources of systematic bias. I propose a novel approach that simultaneously addresses all of these biases, and present new...

Persistent link: https://www.econbiz.de/10005501355

Fiscal devaluations

Farhi, Emmanuel; Gopinath, Gita; Itskhoki, Oleg - Federal Reserve Bank of Boston - 2012

The authors show that even when the exchange rate cannot be devalued, a small set of conventional fiscal policy instruments can robustly replicate the real allocations attained under a nominal exchange rate devaluation in a standard New Keynesian open economy environment. They perform the...

Persistent link: https://www.econbiz.de/10011027181

Price setting in online markets: does IT click?

Gorodnichenko, Yuriy; Sheremirov, Viacheslav; Talavera, … - Federal Reserve Bank of Boston - 2015

goods from a major shopping platform, this paper explores how prices are set in online markets, which have a number of … special properties such as low search costs, low costs of monitoring competitors' prices, and low costs of nominal price …

Persistent link: https://www.econbiz.de/10011274546

Optimal monetary policy in a model of overlapping price contracts

Fuhrer, Jeffrey C. - Federal Reserve Bank of Boston - 1994

This study estimates a model of overlapping nominal price contracts over three distinct monetary policy regimes, testing the stability of the parameters in the model across regimes. Upon finding a model that is stable over the three subsamples, the model then holds for the most recent monetary...

Persistent link: https://www.econbiz.de/10005379719

A historical perspective on housing downturns.

Rosengren, Eric S. - Federal Reserve Bank of Boston - 2008

Presented by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for the Connecticut Business and Industry Association’s 2008 Economic Summit and Outlook, Hartford, Connecticut. January 8, 2008

Persistent link: https://www.econbiz.de/10010726547

A historical perspective on housing downturns.

Rosengren, Eric S. - Federal Reserve Bank of Boston - 2008

Presented by Eric S. Rosengren, President and Chief Executive Officer, Federal Reserve Bank of Boston, for The Seventeenth Annual Vermont Economic Outlook Conference, Burlington, Vermont, January 11, 2008

Persistent link: https://www.econbiz.de/10010726564