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A defining stylized fact associated with exchange-rate-based (ERB) stabilization programs is that their initial phase is characterized by several years of expansion in private consumption and a gradual appreciation of the real exchange rate. In this paper, I argue that standard optimizing models...
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Remarks at the Dutchess County Regional Chamber of Commerce, Fishkill, New York.
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Remarks by President Dudley at the Brooklyn Chamber of Commerce Brooklyn Borough Hall, Brooklyn, New York.
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Remarks at the State University of New York at New Paltz, New Paltz, New York.
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findings of excess sensitivity of consumption and asset prices to new information. …
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Remarks by President Dudley at the Brooklyn Chamber of Commerce Brooklyn Borough Hall, Brooklyn, New York.
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Remarks at the State University of New York at New Paltz, New Paltz, New York.
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