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Persistent appreciations and overshooting : a normative analysis

Caballero, Ricardo J.; Lorenzoni, Guido - In: IMF economic review 62 (2014) 1, pp. 1-47

Persistent link: https://www.econbiz.de/10011517944

A "Vertical" Analysis of Crises and Intervention : Fear of Floating and Ex-Ante Problems

Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021

Emerging economies are prone to crises triggered by external shocks. During these crises, should the central bank stabilize the currency or domestic interest rates? If the choice is outside the central bank's control, as in a currency board, are there good policy substitutes? We argue that these...

Persistent link: https://www.econbiz.de/10013219686

Adjustment is much slower than you think

Caballero, Ricardo J.; Engel, Eduardo - 2003

prices. We show that the standard practice of estimating the speed of adjustment of such variables with partial-adjustment … speed of adjustment inferred from aggregates of a small number of agents is likely to be close to instantaneous. While …, even after aggregating investment across all establishments in U.S. manufacturing, the estimate of its speed of adjustment …

Persistent link: https://www.econbiz.de/10011609531