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Foreign Trade and Equilibrium Indeterminacy
Aguiar-Conraria, Luís Francisco; Wen, Yi - Núcleo de Investigação em Políticas Económicas … - 2004
increase the likelihood of indeterminacy. Payment of imported foreign factors of production may act as a semi-fixed cost …
Persistent link: https://www.econbiz.de/10005827123
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How forward-looking is the Fed? Direct estimates from a ‘Calvo-type’ rule
Gabriel, Vasco J.; Levine, Paul; Spencer, Christopher - Núcleo de Investigação em Políticas Económicas … - 2008
the problem of indeterminacy. Parameter estimates obtained from GMM estimation provide support for Calvo-type rules …
Persistent link: https://www.econbiz.de/10005827124
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Understanding the Impact of Oil Shocks
Aguiar-Conraria, Luís Francisco; Wen, Yi - Núcleo de Investigação em Políticas Económicas … - 2005
This paper provides new empirical evidence on and theoretical support for the close link between oil prices and aggregate macroeconomic performence in the 1970s. Although this link has been well documented in the empirical literature and is further confirmed in this paper, standard economic...
Persistent link: https://www.econbiz.de/10005827136
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Oil Dependence and Economic Instability
Aguiar-Conraria, Luís Francisco; Wen, Yi - Núcleo de Investigação em Políticas Económicas … - 2007
indeterminacy, hence making fluctuations driven by self-fulfilling expectations easier to occur. This is demonstrated in a standard …
Persistent link: https://www.econbiz.de/10005771609