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Macroeconomic stability as the condition for Bulgaria to join the euro area
Moździerz, Anna - In: Equilibrium : quarterly journal of economics and … 14 (2019) 2, pp. 295-315
Persistent link: https://www.econbiz.de/10012232055
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Währungspolitische Optionen für die Mittel- und Osteuropäischen Beitrittskandidaten zur EU
Jochem, Axel; Sell, Friedrich L. - 2001
Persistent link: https://www.econbiz.de/10001555241
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The role of global and domestic shocks for inflation dynamics : evidence from Asia
Finck, David; Tillmann, Peter - 2019
This paper studies the determinants of business cycles in small open economies and adds to the discussion about the changing nature of inflation dynamics. We estimate a series of VAR models for a set of six Asian emerging market economies, in which we identify a battery of domestic and global...
Persistent link: https://www.econbiz.de/10011964249
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External Shocks and Monetary Policy in a Small Open Oil Exporting Economy
Benkhodja, Mohamed Tahar - 2011
four external shocks (oil price shock, USD/EUR exchange rate shock, international inflation shock and international … interest rate shock) and to examine the appropriate monetary policy strategy for Algerian economy, given its structural …
Persistent link: https://www.econbiz.de/10013117249
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Introducing Financial Frictions and Unemployment into a Small Open Economy Model
Christiano, Lawrence J. - 2014
Bayesian techniques with Swedish data. Our main results are as follows: (1) The financial shock to entrepreneurial wealth is … the variance in GDP. (2) The marginal efficiency of investment shock has very limited importance. The reason for this is …-frequency labor preference shock that we do allow is not important in explaining GDP. (4) The tightness of the labor market is …
Persistent link: https://www.econbiz.de/10013069242
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Introducing Financial Frictions and Unemployment into a Small Open Economy Model
Christiano, Lawrence J.; Trabandt, Mathias; Walentin, Karl - 2011
the model using Bayesian techniques on Swedish data. Our main results are: i) A financial shock to entrepreneurial wealth … and GDP. ii) The marginal efficiency of investment shock has very limited importance when we match financial market data …. iii) Our model does not need any high frequency wage markup shocks to match the data. Furthermore, the labor supply shock …
Persistent link: https://www.econbiz.de/10014221498
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Labor Wedges and Open Economy Puzzles
Karabarbounis, Loukas - 2011
A parsimonious model with home production, estimated to match moments of the “labor wedge,” explains prominent puzzles of the international business cycle. If market and home activity are substitutes, then the measured labor wedge increases whenever market consumption and employment...
Persistent link: https://www.econbiz.de/10013131985
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Optimal Pass-Through of Oil Prices in an Economy with Nominal Rigidities
Bouakez, Hafedh - 2008
In many developing and emerging market economies, governments intervene to limit the degree to which oil-price increases are passed through to domestic fuel prices. This paper investigates whether, and to what extent, this intervention is warranted in an oil-importing economy characterized by...
Persistent link: https://www.econbiz.de/10012722888
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Inflation Targeting Rules and Welfare in an Asymmetric Currency Area
Lombardo, Giovanni - 2007
This paper studies the effect on monetary policy of differing degrees of competition and differing degrees of nominal rigidity between the members of a monetary union. In particular, we assess the welfare loss brought about by the use of a simple interest rate rule that does not take into...
Persistent link: https://www.econbiz.de/10012776612
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Imperfect Competition, Monetary Policy and Welfare in a Currency Area
Lombardo, Giovanni - 2016
Persistent link: https://www.econbiz.de/10012991267