We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a simple Keynesian model. When constrained agents engage in deleveraging, the interest rate needs to fall to induce unconstrained agents to pick up the decline in aggregate demand....

1. A retrospective view of Hicks's Capital and time : a neo-Austrian theory / Edwin Burmeister -- 2. Hicks's neo-Austrian theory and B�hm-Bawerk's Austrian theory of capital / Christian Gehrke and Heinz D. Kurz -- 3. Traverse analysis and methods of economic dynamics / Roberto Scazzieri -- 4....

While capital flows to emerging markets bring numerous benefits, they are also known to create macroeconomic imbalances (economic overheating, currency overvaluation) and increase financial vulnerabilities (domestic credit growth, bank leverage, foreign currency-denominated lending). But are all...

Recent spikes in oil prices have thrown light on how economic activity in emerging markets may be impacted by oil price shocks. This paper conducts an empirical analysis of the effect of oil price shocks on emerging markets. It tests for the existence of an asymmetrical relationship between oil...