The impact of an unanticipated monetary shock in a small open economy with dollarization, factor price rigidities, and …

open economy (‘home') in response to a large global demand shock that pushes both economies to the zero lower bound (ZLB …

open economy ('home') in response to a large global demand shock that pushes both economies to the zero lower bound (ZLB …

economy. Furthermore we introduce a velocity of money shock revisiting the Quantity Theory of Money within the open economy … paradigm of microeconomic theory and invoked since a tendency to think in nominal rather than real terms becomes evident in the … a productivity shock are increasing in the degree of money illusion and decreasing in the degree of openness of the …

expansionary shock that would be beneficial in a closed economy can have an adverse quot;beggar-thyselfquot; effect in the country …

After an expansionary monetary policy shock employment increases and unemployment falls. In standard New Keynesian … (2010) found that the risk of unemployment negatively affects utility of employed workers: An increases in aggregate … unemployment decreases workers' subjective well-being, which can be explained by an increased risk of becoming unemployed. I take …