Similar Search Results

World Shocks, World Prices, and Business Cycles : An Empirical Investigation

Fernández, Andrés - 2016

intratemporal relative price such as the terms of trade and possibly an intertemporal price such as the world interest rate. This … paper presents an empirical framework in which multiple commodity prices and the world interest rate transmit world … disturbances. Estimates on a panel of 138 countries over the period 1960-2015 indicate that world shocks explain on average 33 …

Persistent link: https://www.econbiz.de/10012455847

Pegs and Pain

Schmitt-Grohé, Stephanie - 2011

We identify a disconnect between historical and model-based assessments of the costs of currency pegs due to nominal rigidities. While the former attribute major contractions and massive unemployment to currency pegs, the latter find miniscule welfare losses. The goal of this paper is to...

Persistent link: https://www.econbiz.de/10012461811

Optimal fiscal and monetary policy under sticky prices

Schmitt-Grohé, Stephanie (contributor); … - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001629565

Solving dynamic general equilibrium models using a second-order approximation to the policy function

Schmitt-Grohé, Stephanie (contributor); … - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001629574

Chaotic interest rate rules

Benhabib, Jess (contributor); … - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001629580

Closing small open economy models

Schmitt-Grohé, Stephanie (contributor); … - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001631778

Optimal fiscal and monetary policy under imperfect competition

Schmitt-Grohé, Stephanie (contributor); … - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001578958

Optimal fiscal and monetary policy under imperfect comptition

Schmitt-Grohé, Stephanie (contributor); … - 2000 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001547185

Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability

Benhabib, Jess (contributor); … - 2003 - [Elektronische Ressource]

The existing literature on the stabilizing properties of interest-rate feedback rules has stressed the perils of linking interest rates to forecasts of future inflation. Such rules have been found to give rise to aggregate fluctuations due to self-fulfilling expectations. In response to this...

Persistent link: https://www.econbiz.de/10001751344

Deterministic Debt Cycles in Open Economies with Flow Collateral Constraints

Schmitt-Grohé, Stephanie - 2020

This paper establishes the existence of deterministic cycles in infinite-horizon open economy models with a flow collateral constraint. It shows that for plausible parameter configurations, the economy has a unique equilibrium exhibiting deterministic cycles in which periods of debt growth are...

Persistent link: https://www.econbiz.de/10012479137