Showing 1 - 10 of 728,897
idiosyncratic shocks. Even when prices are flexible and inflation can costlessly act as a shock absorber to restore fiscal … economy, the introduction of sticky prices can reduce the optimal volatility of taxes. …
Persistent link: https://www.econbiz.de/10003867915
Persistent link: https://www.econbiz.de/10008823669
Persistent link: https://www.econbiz.de/10003830464
Persistent link: https://www.econbiz.de/10003284900
Persistent link: https://www.econbiz.de/10003286982
Persistent link: https://www.econbiz.de/10003839388
Persistent link: https://www.econbiz.de/10003223073
Did adoption of the gold standard exacerbate or diminish macroeconomic volatility? Supporters thought so, critics … thought not, and theory offers ambiguous messages. A hard exchange-rate regime such as the gold standard might limit monetary … shocks if it ties the hands of policy makers. But any decision to forsake exchange-rate flexibility might compromise shock …
Persistent link: https://www.econbiz.de/10012761895
Did adoption of the gold standard exacerbate or diminish macroeconomic volatility? Supporters thought so, critics … thought not, and theory offers ambiguous messages. A hard exchange-rate regime such as the gold standard might limit monetary … shocks if it ties the hands of policy makers. But any decision to forsake exchange-rate flexibility might compromise shock …
Persistent link: https://www.econbiz.de/10012466876
We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we make use of a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our model the...
Persistent link: https://www.econbiz.de/10010414236