This paper studies optimal monetary policy responses to country-specific shocks in a simple two-country new open macroeconomic model that features sticky-price and local-currency pricing. Technology shocks in the home country are allowed to diffuse to the foreign country with a one-period lag,...

This paper provides an econometric analysis of the relationship between live and deceased (cadaveric) kidney donations for the United States for the period 1992:IV through 2006:II. Statistical analysis shows that increases in deceased donor transplants reduce future live donor grafts,...

This paper studies the dynamic effects of the fiscal policy shock on private activity using an array of vector autoregressive models for the post-war US data. We are particularly interested in the role of consumer sentiment in the transmission of the government spending shock. Our major findings...