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Sharing the burden: monetary and fiscal responses to a world liquidity trap
Cook, David; Devereux, Michael B. - Federal Reserve Bank of Dallas - 2011
With integrated trade and financial markets, a collapse in aggregate demand in a large country can cause "natural real interest rates" to fall below zero in all countries, giving rise to a global "liquidity trap." This paper explores the optimal policy response to this type of shock, when...
Persistent link: https://www.econbiz.de/10009292929
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Fiscal deficits, debt, and monetary policy in a liquidity trap
Devereux, Michael B. - Federal Reserve Bank of Dallas - 2010
. This paper explores the role of government debt and deficits in an economy constrained by the zero bound on nominal …
Persistent link: https://www.econbiz.de/10008475891
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Monetary policy rules and exchange rate flexibility in a simple dynamic general equilibrium model
Devereux, Michael B. - In: Journal of macroeconomics 26 (2004) 2, pp. 287-308
Persistent link: https://www.econbiz.de/10002088943
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Comments on "Monetary policy rules and exchange rate flexibility in a simple dynamic general equilibrium model
Ghironi, Fabio; Hernandez, Kolver - In: Journal of macroeconomics 26 (2004) 2, pp. 309-313
Persistent link: https://www.econbiz.de/10002088953
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Comments on "Monetary policy rules and exchange rate flexibility in a simple dynamic general equilibrium model
Guerrieri, Luca - In: Journal of macroeconomics 26 (2004) 2, pp. 315-317
Persistent link: https://www.econbiz.de/10002088960
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Vehicle currency
Devereux, Michael B.; Shi, Shouyong - Federal Reserve Bank of Dallas - 2008
existence, the size of the vehicle currency economy, and the monetary policy followed by the vehicle currency's government. We …
Persistent link: https://www.econbiz.de/10005367962
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Country portfolios in open economy macro models
Devereux, Michael B.; Sutherland, Alan - Federal Reserve Bank of Dallas - 2008
open economy macro models. The method is widely applicable, simple to implement, and gives analytical solutions for … simple two-asset endowment economy model, and then show how the results extend to the case of any number of assets and …
Persistent link: https://www.econbiz.de/10005498676