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Nominal debt and the dynamics of currency crises
Corsetti, Giancarlo; Maćkowiak, Bartosz - 2000
Persistent link: https://www.econbiz.de/10001537380
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Optimal Monetary Policy and the Sources of Local-Currency Price Stability
Corsetti, Giancarlo - 2010
We analyze the policy trade-offs generated by local currency price stability of imports in economies where upstream producers strategically interact with downstream firms selling the final goods to consumers. We study the effects of staggered price setting at the downstream level on the optimal...
Persistent link: https://www.econbiz.de/10012759752
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Towards a Theory of Firm Entry and Stabilization Policy
Bergin, Paul R. - 2009
This paper studies the role of stabilization policy in a model where firm entry responds to shocks and uncertainty. We … fixed cost of entry. The presence of endogenous entry can alter the dynamic response to shocks, leading to greater … persistence in the effects of monetary and real shocks. Entry affects welfare, depending on the love of variety in consumption and …
Persistent link: https://www.econbiz.de/10012767456
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Beyond Competitive Devaluations : The Monetary Dimensions of Comparative Advantage
Bergin, Paul R. - 2019
inflation and the output gap, monetary policy can foster the competitiveness of these firms, encouraging investment and entry in …
Persistent link: https://www.econbiz.de/10012871944
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International Competitiveness and Monetary Policy : Strategic Policy and Coordination with a Production Relocation Externality
Bergin, Paul R. - 2013
,' developed in trade theory to analyze the benefits from promoting entry of domestic firms in the manufacturing sector. In a …
Persistent link: https://www.econbiz.de/10013077221
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International Dimensions of Optimal Monetary Policy
Corsetti, Giancarlo; Pesenti, Paolo A. - 2021
This paper provides a baseline general-equilibrium model of optimal monetary policy among interdependent economies, with monopolistic firms that set prices one period in advance. Strict adherence to inward-looking policy objectives such as the stabilization of domestic output cannot be optimal...
Persistent link: https://www.econbiz.de/10013221855
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A Center-Periphery Model of Monetary Coordination and Exchange Rate Crises
Buiter, Willem H.; Corsetti, Giancarlo; Pesenti, Paolo A. - 2021
The paper analyzes the modalities and consequences of a breakdown of cooperation between the monetary authorities of inflation-prone Periphery Countries that use an exchange rate peg as an anti- inflationary device, when the Center is hit by an aggregate demand shock. Cooperation in the...
Persistent link: https://www.econbiz.de/10013219188