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Different export-pricing currency paradigms have different implications for a host of issues that are critical for policymakers such as business cycle co-movement, optimal monetary policy, optimum currency areas and international monetary policy co-ordination. Unfortunately, the literature has...
Persistent link: https://www.econbiz.de/10012058993
Persistent link: https://www.econbiz.de/10012543257
Persistent link: https://www.econbiz.de/10012051369
We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced and emerging economies. To do so, we estimate Taylor-rule type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic fundamentals,...
Persistent link: https://www.econbiz.de/10011997477
How does global risk impact the world economy? In taking up this question, we focus on the dollar’s role in the …
Persistent link: https://www.econbiz.de/10012705529
, the contractionary impact of a global risk shock is much weaker, both in the rest of the world and the US. For the rest of … transmission of global risk to the world economy within a Bayesian proxy structural vectorautoregressive model. We identify global … the world, contractionary financial channels thus dominate expansionary expenditure switching when global risk rises and …
Persistent link: https://www.econbiz.de/10014438127
Different export-pricing currency paradigms have different implications for a host of issues that are critical for policymakers such as business cycle co-movement, optimal monetary policy, optimum currency areas and international monetary policy co-ordination. Unfortunately, the literature has...
Persistent link: https://www.econbiz.de/10013315352
Different export-pricing currency paradigms have different implications for a host of issues that are critical for policymakers such as business cycle co-movement, optimal monetary policy, optimum currency areas and international monetary policy coordination. Unfortunately, the literature has...
Persistent link: https://www.econbiz.de/10012847070
How does global risk impact the world economy? In taking up this question, we focus on the dollar’s role in the …
Persistent link: https://www.econbiz.de/10013310676
We assess the empirical validity of the trilemma or impossible trinity in the 2000s for a large sample of advanced and emerging market economies. To do so, we estimate Taylor rule-type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic...
Persistent link: https://www.econbiz.de/10012865722