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Martin Uribe

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Vivian Yue & Stephanie Schmitt-Grohe & Martin Uribe & Seunghoon Na, 2015. "A Model of the Twin Ds: Optimal Default and Devaluation," 2015 Meeting Papers 419, Society for Economic Dynamics.

    Mentioned in:

    1. A Model of the Twin Ds: Optimal Default and Devaluation
      by Christian Zimmermann in NEP-DGE blog on 2015-09-11 19:44:53
  2. Javier Garcia-Cicco & Roberto Pancrazi & Martin Uribe, 2010. "Real Business Cycles in Emerging Countries?," American Economic Review, American Economic Association, vol. 100(5), pages 2510-2531, December.

    Mentioned in:

    1. On Powerful Macroeconomic Concepts: Consumption Smoothing
      by paragwaknis in Musings of the Sorts on 2013-03-29 06:04:36
  3. Stephanie Schmitt-Grohé & Martín Uribe, 2012. "The Making Of A Great Contraction With A Liquidity Trap and A Jobless Recovery," NBER Working Papers 18544, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. Is it time for the Fed to raise its policy rate?
      by David Andolfatto in MacroMania on 2013-01-20 08:18:00
    2. The Making Of A Great Contraction With A Liquidity Trap and A Jobless Recovery
      by Christian Zimmermann in NEP-DGE blog on 2012-12-09 05:59:43
  4. Benhabib, Jess & Schmitt-Grohe, Stephanie & Uribe, Martin, 2001. "The Perils of Taylor Rules," Journal of Economic Theory, Elsevier, vol. 96(1-2), pages 40-69, January.

    Mentioned in:

    1. On the perils of Taylor rules
      by David Andolfatto in MacroMania on 2012-12-29 02:20:00
    2. Is it time for the Fed to raise its policy rate?
      by David Andolfatto in MacroMania on 2013-01-20 08:18:00
    3. Connecting the Academic and Policy Worlds: Interview with James Bullard
      by David Andolfatto in MacroMania on 2013-11-26 03:40:00
    4. Is QE lowering the rate of inflation?
      by David Andolfatto in MacroMania on 2013-12-02 00:54:00
    5. Seeking feedback: Towards a New Keynesian Theory of the Price Level
      by bankunderground in Bank Underground on 2015-07-13 12:30:00
    6. Deflation in Sweden: Svensson's Advice is the Problem, Not the Solution
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2014-04-21 01:05:00
    7. What's More Scary, Ebola or Deflation?
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2014-10-23 07:37:00
    8. Neo-Fisherians: Unite and Throw off MV=PY and Your Phillips Curves!
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2014-11-13 22:21:00
    9. The End of Central Banking
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2016-02-14 22:52:00
    10. Neo-Fisherian Denial
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2016-04-15 00:41:00
    11. What Does "Serious" Mean?
      by Stephen Williamson in Stephen Williamson: New Monetarist Economics on 2018-06-19 21:40:00
    12. Where Is the “Peril” of Deflation Striking Back?
      by Robert Balaban in St. Louis Fed On the Economy on 2015-01-19 17:00:12
  5. Jesus Fernandez-Villaverde & Pablo Guerron-Quintana & Juan F. Rubio-Ramirez & Martin Uribe, 2011. "Risk Matters: The Real Effects of Volatility Shocks," American Economic Review, American Economic Association, vol. 101(6), pages 2530-2561, October.

    Mentioned in:

    1. Las raíces políticas de la crisis del Euro
      by Cives in Politikon on 2012-05-22 16:48:47
    2. El acuerdo del Eurogrupo: Vivir en la Incertidumbre
      by Luis Garicano in Nada Es Gratis on 2012-07-10 15:04:44
  6. Stephanie Schmitt-Grohe & Martin Uribe, 2010. "The Optimal Rate of Inflation," NBER Working Papers 16054, National Bureau of Economic Research, Inc.

    Mentioned in:

    1. The case for a higher inflation target gets stronger
      by Steve Cecchetti and Kim Schoenholtz in Money, Banking and Financial Markets on 2017-04-03 17:48:01
  7. Author Profile
    1. A Global Economics Rank of #257 in REPEC's "Recent Publications" Category
      by Matthew Kahn in Environmental and Urban Economics on 2013-10-22 05:29:00
    2. Ranking Economists
      by Matthew Kahn in Environmental and Urban Economics on 2017-11-06 07:32:00
    3. The PHD Economics Cohort from 1993
      by Matthew Kahn in Environmental and Urban Economics on 2017-12-05 05:11:00

Wikipedia or ReplicationWiki mentions

(Only mentions on Wikipedia that link back to a page on a RePEc service)
  1. Jesus Fernandez-Villaverde & Pablo Guerron-Quintana & Juan F. Rubio-Ramirez & Martin Uribe, 2011. "Risk Matters: The Real Effects of Volatility Shocks," American Economic Review, American Economic Association, vol. 101(6), pages 2530-2561, October.

    Mentioned in:

    1. Risk Matters: The Real Effects of Volatility Shocks: Comment (AER 2014) in ReplicationWiki ()
    2. Risk Matters: The Real Effects of Volatility Shocks (AER 2011) in ReplicationWiki ()
  2. Stephanie Schmitt-Grohé & Martín Uribe, 2016. "Downward Nominal Wage Rigidity, Currency Pegs, and Involuntary Unemployment," Journal of Political Economy, University of Chicago Press, vol. 124(5), pages 1466-1514.

    Mentioned in:

    1. Downward Nominal Wage Rigidity, Currency Pegs, and Involuntary Unemployment (JPE 2016) in ReplicationWiki ()
  3. Javier Garcia-Cicco & Roberto Pancrazi & Martin Uribe, 2010. "Real Business Cycles in Emerging Countries?," American Economic Review, American Economic Association, vol. 100(5), pages 2510-2531, December.

    Mentioned in:

    1. Real Business Cycles in Emerging Countries? (AER 2010) in ReplicationWiki ()

Working papers

  1. Martín Uribe, 2018. "The Neo-Fisher Effect: Econometric Evidence from Empirical and Optimizing Models," NBER Working Papers 25089, National Bureau of Economic Research, Inc.

    Cited by:

    1. Lucio Gobbi & Ronny Mazzocchi & Roberto Tamborini, 2022. "Monetary policy, rational confidence, and Neo‐Fisherian depressions," Metroeconomica, Wiley Blackwell, vol. 73(4), pages 1179-1199, November.
    2. John H. Cochrane, 2020. "Strategic Review and Beyond: Rethinking Monetary Policy and Independence," Review, Federal Reserve Bank of St. Louis, vol. 102(2), pages 99-119, May.
    3. Yoosoon Chang & Fabio Gómez-Rodríguez & Mr. Gee Hee Hong, 2022. "The Effects of Economic Shocks on Heterogeneous Inflation Expectations," IMF Working Papers 2022/132, International Monetary Fund.
    4. Nooman Rebei & Rashid Sbia, 2021. "Transitory and permanent shocks in the global market for crude oil," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 36(7), pages 1047-1064, November.
    5. Marco Bassetto, 2019. "Forward guidance: communication, commitment, or both?," IFS Working Papers W19/20, Institute for Fiscal Studies.
    6. Eser, Fabian & Karadi, Peter & Lane, Philip R. & Moretti, Laura & Osbat, Chiara, 2020. "The Phillips Curve at the ECB," Working Paper Series 2400, European Central Bank.
    7. Andrew Phiri, 2019. "Is Neo-Fisherian ‘alive’ in South Africa? A frequency domain causality approach," Working Papers 1911, Department of Economics, Nelson Mandela University, revised Nov 2019.
    8. Elizaveta Lukmanova & Katrin Rabitsch, 2018. "New VAR evidence on monetary transmission channels: temporary interest rate versus inflation target shocks," Working Papers of Department of Economics, Leuven 630040, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    9. Lutho Mbekeni & Andrew Phiri, 2019. "Can the South African Reserve Bank (SARB) protect the purchasing power of citizens? A new look at Fisher’s hypothesis," Working Papers 1906, Department of Economics, Nelson Mandela University, revised Sep 2019.
    10. John Cochrane, 2022. "A fiscal theory of monetary policy with partially repaid long-term debt," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 1-21, July.
    11. Andrés Fernández & Stephanie Schmitt-Grohé & Martín Uribe, 2020. "Does the Commodity Super Cycle Matter?," NBER Working Papers 27589, National Bureau of Economic Research, Inc.
    12. Guido Ascari & Anna Florio & Alessandro Gobbi, 2020. "Monetary-fiscal interactions under price level targeting," Papers 2010.14979, arXiv.org.
    13. Siddhartha Chattopadhyay & Taniya Ghosh, 2019. "Taylor rule implementation of the Optimal policy at the zero lower bound: Does the cost channel matter?," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2019-021, Indira Gandhi Institute of Development Research, Mumbai, India.
    14. Andrew Phiri, 2023. "Fisher’s hypothesis in time–frequency space: a premier using South Africa as a case study," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(5), pages 4255-4284, October.
    15. Thiago Revil T. Ferreira & Samer Shousha, 2020. "Scarcity of Safe Assets and Global Neutral Interest Rates," International Finance Discussion Papers 1293, Board of Governors of the Federal Reserve System (U.S.).
    16. Brendon, Charles & Paustian, Matthias & Yates, Tony, 2020. "Self-fulfilling recessions at the zero lower bound," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 213-232.
    17. Goyal, Ashima & Parab, Prashant, 2021. "What influences aggregate inflation expectations of households in India?," Journal of Asian Economics, Elsevier, vol. 72(C).
    18. Ascari, Guido & Florio, Anna & Gobbi, Alessandro, 2023. "Price level targeting under fiscal dominance," Journal of International Money and Finance, Elsevier, vol. 137(C).
    19. Kevin J. Lansing, 2019. "Endogenous Forecast Switching Near the Zero Lower Bound," Working Paper Series 2017-24, Federal Reserve Bank of San Francisco.
    20. Stephanie Schmitt-Grohé & Martín Uribe, 2018. "Exchange Rates and Uncovered Interest Differentials: The Role of Permanent Monetary Shocks," NBER Working Papers 25380, National Bureau of Economic Research, Inc.
    21. Junko Koeda, 2018. "Macroeconomic Effects of Quantitative and Qualitative Monetary Easing Measures," IMES Discussion Paper Series 18-E-16, Institute for Monetary and Economic Studies, Bank of Japan.
    22. Bias Peter V. & Hall Joshua D., 2021. "A Test of Neo-Fisherism: 1964–2019," The B.E. Journal of Macroeconomics, De Gruyter, vol. 21(1), pages 221-251, January.
    23. Stephen Williamson, 2019. "Neo-Fisherism and inflation control," Canadian Journal of Economics, Canadian Economics Association, vol. 52(3), pages 882-913, August.

  2. Stephanie Schmitt-Grohé & Martín Uribe, 2018. "Exchange Rates and Uncovered Interest Differentials: The Role of Permanent Monetary Shocks," NBER Working Papers 25380, National Bureau of Economic Research, Inc.

    Cited by:

    1. Müller, Gernot & Wolf, Martin & Hettig, Thomas, 2019. "Exchange Rate Undershooting: Evidence and Theory," CEPR Discussion Papers 13597, C.E.P.R. Discussion Papers.
    2. Refet S. Gürkaynak & A. Hakan Kara & Burcin Kisacikoglu, 2020. "Monetary Policy Surprises and Exchange Rate Behavior," CESifo Working Paper Series 8557, CESifo.
    3. Florian Huber & Katrin Rabitsch, 2019. "Exchange rate dynamics and monetary policy -- Evidence from a non-linear DSGE-VAR approach," Department of Economics Working Papers wuwp295, Vienna University of Economics and Business, Department of Economics.
    4. Rüth, Sebastian K., 2019. "Shifts in Monetary Policy and Exchange Rate Dynamics: Is Dornbusch's Overshooting Hypothesis Intact, After all?," Working Papers 0673, University of Heidelberg, Department of Economics.

  3. Martín Uribe, 2017. "The Neo-Fisher Effect in the United States and Japan," NBER Working Papers 23977, National Bureau of Economic Research, Inc.

    Cited by:

    1. Lucio Gobbi & Ronny Mazzocchi & Roberto Tamborini, 2022. "Monetary policy, rational confidence, and Neo‐Fisherian depressions," Metroeconomica, Wiley Blackwell, vol. 73(4), pages 1179-1199, November.
    2. Marco Bassetto, 2019. "Forward guidance: communication, commitment, or both?," IFS Working Papers W19/20, Institute for Fiscal Studies.
    3. Olaf Posch, 2018. "Resurrecting the New-Keynesian Model: (Un)conventional Policy and the Taylor Rule," CESifo Working Paper Series 6925, CESifo.
    4. Andrew Filardo & Jouchi Nakajima, 2018. "Effectiveness of unconventional monetary policies in a low interest rate environment," BIS Working Papers 691, Bank for International Settlements.
    5. Siddhartha Chattopadhyay & Taniya Ghosh, 2019. "Taylor rule implementation of the Optimal policy at the zero lower bound: Does the cost channel matter?," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2019-021, Indira Gandhi Institute of Development Research, Mumbai, India.
    6. Sevda Yapraklı, 2022. "The Validity of The Neo-Fisher Effect in The Period of Explicit Inflation Targeting: An Econometric Analysis on Turkey," EKOIST Journal of Econometrics and Statistics, Istanbul University, Faculty of Economics, vol. 0(37), pages 85-105, December.
    7. Martín Uribe, 2018. "The Neo-Fisher Effect: Econometric Evidence from Empirical and Optimizing Models," NBER Working Papers 25089, National Bureau of Economic Research, Inc.
    8. Fumio Hayashi, 2019. "Peril of the Inflation Exit Condition," The Japanese Economic Review, Springer, vol. 70(1), pages 4-27, March.
    9. Marques, André M. & Carvalho, André R., 2022. "Testing the neo-fisherian hypothesis in Brazil," The Quarterly Review of Economics and Finance, Elsevier, vol. 86(C), pages 407-419.

  4. Jasmina Arifovic & Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Learning to Live in a Liquidity Trap," NBER Working Papers 23725, National Bureau of Economic Research, Inc.

    Cited by:

    1. Athanasios Geromichalos & Lucas Herrenbrueck, 2022. "The Liquidity-Augmented Model of Macroeconomic Aggregates: A New Monetarist DSGE Approach," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 45, pages 134-167, July.
    2. He Nie & Jordan Roulleau-Pasdeloup, 2022. "Online Appendix to "The promises (and perils) of control-contingent forward guidance"," Online Appendices 21-153, Review of Economic Dynamics.
    3. Robert Kollmann, 2021. "Effects of Covid-19 on Euro area GDP and inflation: demand vs. supply disturbances," International Economics and Economic Policy, Springer, vol. 18(3), pages 475-492, July.
    4. Lucio Gobbi & Ronny Mazzocchi & Roberto Tamborini, 2022. "Monetary policy, rational confidence, and Neo‐Fisherian depressions," Metroeconomica, Wiley Blackwell, vol. 73(4), pages 1179-1199, November.
    5. Robert Kollmann, 2020. "Liquidity Traps in a Monetary Union," Globalization Institute Working Papers 397, Federal Reserve Bank of Dallas.
    6. Evans, George & Gibbs, Christopher & McGough, Bruce, 2021. "A Unified Model of Learning to Forecast," Working Papers 2021-10, University of Sydney, School of Economics.
    7. Kollmann, Robert, 2021. "Liquidity traps in a world economy," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
    8. Jarociński, Marek & Maćkowiak, Bartosz, 2017. "Monetary-fiscal interactions and the euro area's malaise," Working Paper Series 2072, European Central Bank.
    9. Hommes, Cars, 2018. "Behavioral & experimental macroeconomics and policy analysis: a complex systems approach," Working Paper Series 2201, European Central Bank.
    10. Gilles Dufrenot & Meryem Rhouzlane, 2018. "Secular Stagnation: New Challenges for the Industrialized Countries in the 21st Century," AMSE Working Papers 1818, Aix-Marseille School of Economics, France.
    11. Petersen, Luba & Rholes, Ryan, 2022. "Macroeconomic expectations, central bank communication, and background uncertainty: A COVID-19 laboratory experiment," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    12. Siddhartha Chattopadhyay & Taniya Ghosh, 2019. "Taylor rule implementation of the Optimal policy at the zero lower bound: Does the cost channel matter?," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2019-021, Indira Gandhi Institute of Development Research, Mumbai, India.
    13. Brendon, Charles & Paustian, Matthias & Yates, Tony, 2020. "Self-fulfilling recessions at the zero lower bound," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 213-232.
    14. Gobbi, Lucio & Mazzocchi, Ronny & Tamborini, Roberto, 2019. "Monetary policy, de-anchoring of inflation expectations, and the “new normal”," Journal of Macroeconomics, Elsevier, vol. 61(C), pages 1-1.
    15. Kevin J. Lansing, 2019. "Endogenous Forecast Switching Near the Zero Lower Bound," Working Paper Series 2017-24, Federal Reserve Bank of San Francisco.
    16. Maksim Isakin & Phuong V. Ngo, 2022. "Multiplicity in New Keynesian Models," Open Economies Review, Springer, vol. 33(3), pages 505-521, July.

  5. Stephanie Schmitt-Grohé & Martín Uribe, 2016. "Adjustment to Small, Large, and Sunspot Shocks in Open Economies With Stock Collateral Constraints," NBER Working Papers 22971, National Bureau of Economic Research, Inc.

    Cited by:

    1. Damián Pierri, 2021. "Memory, Multiple Equilibria And Emerging Market Crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    2. Olivier Jeanne & Anton Korinek, 2010. "Managing Credit Booms and Busts: A Pigouvian Taxation Approach," NBER Working Papers 16377, National Bureau of Economic Research, Inc.
    3. Parimoo, Suneil, 2024. "Cycles and self-fulfilling crises in open economies with stock collateral constraints under impatience," Journal of Mathematical Economics, Elsevier, vol. 112(C).
    4. Javier Bianchi & Enrique G. Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," NBER Working Papers 26915, National Bureau of Economic Research, Inc.
    5. Bira Zhahadai, 2023. "Are business cycles in emerging market economies alike?," International Economics and Economic Policy, Springer, vol. 20(4), pages 537-561, October.
    6. Emiliano Libman, 2019. "Destabilizing Balance Sheet Effects in the New Consensus Model," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 45(4), pages 590-611, October.
    7. Been-Lon Chen & Yunfang Hu & Kazuo Mino, 2020. "Capital Allocation and Wealth Distribution in a Global Economy with Financial Frictions," KIER Working Papers 1045, Kyoto University, Institute of Economic Research.
    8. Enrique G. Mendoza & Eugenio I. Rojas, 2018. "Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy," NBER Working Papers 24336, National Bureau of Economic Research, Inc.

  6. Schmitt-Grohé, Stephanie & Uribe, Martín, 2016. "Multiple Equilibria in Open Economy Models with Collateral Constraints: Overborrowing Revisited," CEPR Discussion Papers 11623, C.E.P.R. Discussion Papers.

    Cited by:

    1. Mariam Camarero & María Dolores Gadea-Rivas & Ana Gómez-Loscos & Cecilio Tamarit, 2019. "External imbalances and recoveries," Working Papers 1912, Department of Applied Economics II, Universidad de Valencia.
    2. Olivier Jeanne & Anton Korinek, 2010. "Managing Credit Booms and Busts: A Pigouvian Taxation Approach," NBER Working Papers 16377, National Bureau of Economic Research, Inc.
    3. Fernando Arce & Julien Bengui & Javier Bianchi, 2019. "A Macroprudential Theory of Foreign Reserve Accumulation," Staff Working Papers 19-43, Bank of Canada.
    4. Javier Bianchi & Guido Lorenzoni, 2021. "The Prudential Use of Capital Controls and Foreign Currency Reserves," Working Papers 787, Federal Reserve Bank of Minneapolis.
    5. Hao Jin & Hewei Shen, 2019. "Online Appendix to "Foreign Asset Accumulation among Emerging Market Economies: a Case for Coordination"," Online Appendices 18-222, Review of Economic Dynamics.
    6. Javier Bianchi & Enrique G. Mendoza, 2020. "A Fisherian Approach to Financial Crises: Lessons from the Sudden Stops Literature," NBER Working Papers 26915, National Bureau of Economic Research, Inc.
    7. Jensen, Henrik & Ravn, Søren Hove & Santoro, Emiliano, 2019. "Kinks and Gains from Credit Cycles," CEPR Discussion Papers 13795, C.E.P.R. Discussion Papers.
    8. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Is Optimal Capital Control Policy Countercyclical in Open Economy Models with Collateral Constraints?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 498-527, August.
    9. Hao Jin & Hewei Shen, 2016. "Foreign Asset Accumulation among Emerging Market Economies: a Case for Coordination," CAEPR Working Papers 2016-001, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    10. Tai‐kuang Ho & Ya‐chi Lin & Kuo‐chun Yeh, 2021. "The case for starting a new exchange rate after debt settlement: Reexamining alternatives to Argentina’s exchange rate policy in 2001–2002," Review of International Economics, Wiley Blackwell, vol. 29(3), pages 641-662, August.
    11. Enrique Mendoza, 2016. "Macroprudential Policy: Promise and Challenges," PIER Working Paper Archive 16-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 24 Oct 2016.
    12. Carlos Rondón-Moreno, 2022. "Debt and Taxes: Optimal Fiscal Consolidation in the Small Open Economy," Working Papers Central Bank of Chile 941, Central Bank of Chile.
    13. Carmiña O. Vargas & Julian A. Parra‐Polania, 2021. "Analysis of macro‐prudential and ex post financial crisis interventions: Relevance of the fiscal‐policy setup," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(3), pages 3759-3769, July.
    14. Stangebye, Zachary R., 2020. "Beliefs and long-maturity sovereign debt," Journal of International Economics, Elsevier, vol. 127(C).
    15. Enrique G. Mendoza & Eugenio I. Rojas, 2018. "Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy," NBER Working Papers 24336, National Bureau of Economic Research, Inc.
    16. Enrique G. Mendoza, 2017. "Política macroprudencial: promesas y desafíos," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 20(2), pages 042-088, August.

  7. Andrés Fernández & Stephanie Schmitt-Grohé & Martín Uribe, 2016. "World Shocks, World Prices, and Business Cycles: An Empirical Investigation," NBER Working Papers 22833, National Bureau of Economic Research, Inc.

    Cited by:

    1. Valentin Lang & David Mihalyi & Andrea F. Presbitero, 2023. "Borrowing Costs after Sovereign Debt Relief," American Economic Journal: Economic Policy, American Economic Association, vol. 15(2), pages 331-358, May.
    2. Escalante, Luis & Mamboundou, Pierre, 2024. "Adapting fiscal strategies to energy and food price shocks in Portugal," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 651-665.
    3. Flechtner, Svenja & Middelanis, Martin, 2024. "The role of the commodity price boom in shaping public social spending: Evidence from Latin America," World Development, Elsevier, vol. 182(C).
    4. Arthur Mendes & Steven Pennings, 2025. "One Rule Fits All? Heterogeneous Fiscal Rules for Commodity Exporters When Price Shocks Can Be Persistent: Theory and Evidence," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 55, January.
    5. Jorge Lorca, 2021. "Capital Flows and Emerging Markets Fluctuations," Working Papers Central Bank of Chile 898, Central Bank of Chile.
    6. William Ginn & Marc Pourroy, 2022. "The Contribution of Food Subsidy Policy to Monetary Policy in India," Post-Print hal-02944209, HAL.
    7. Emre Özçelik & Mustafa Tuğan, 2024. "Terms‐of‐trade effects of productivity shocks in developing economies," Review of International Economics, Wiley Blackwell, vol. 32(4), pages 1587-1606, September.
    8. Kwabena Asomanin Anaman & Gbensuglo Alidu Bukari, 2019. "Political Economy Analysis of the Macroeconomic Impact of National Elections in Ghana During the Fourth Republican Era, 1992 to 2016," Applied Economics and Finance, Redfame publishing, vol. 6(3), pages 28-44, May.
    9. William Ginn, 2024. "Agricultural fluctuations and global economic conditions," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 160(3), pages 1037-1056, August.
    10. Romain Houssa & Jolan Mohimont & Chris Otrok, 2019. "A Model for International Spillovers to Emerging Markets," CESifo Working Paper Series 7702, CESifo.
    11. Kris James Mitchener & Gonçalo Pina, 2022. "Causal Effects of Countercyclical Interest Rates: Evidence from the Classical Gold Standard," CESifo Working Paper Series 9716, CESifo.
    12. Andres Fernandez & Ayse Imrohoroglu & Cesar Tamayo, 2018. "Saving Rates in Latin America: A Neoclassical Perspective," 2018 Meeting Papers 1229, Society for Economic Dynamics.
    13. Bems, Rudolfs & Caselli, Francesca & Grigoli, Francesco & Gruss, Bertrand, 2021. "Expectations' Anchoring and Inflation Persistence," CEPR Discussion Papers 16391, C.E.P.R. Discussion Papers.
    14. Drechsel, Thomas & Tenreyro, Silvana, 2017. "Commodity booms and busts in emerging economies," LSE Research Online Documents on Economics 86152, London School of Economics and Political Science, LSE Library.
    15. Doojav, Gan-Ochir & Luvsannyam, Davaajargal & Enkh-Amgalan, Elbegjargal, 2023. "Effects of global liquidity and commodity market shocks in a commodity-exporting developing economy," Journal of Commodity Markets, Elsevier, vol. 30(C).
    16. Rodriguez, Diego & Gonzalez, Andres & Fernandez, Andres, 2015. "Sharing a Ride on the Commodities Roller Coaster: Common Factors in Business Cycles of Emerging Economies," IDB Publications (Working Papers) 7382, Inter-American Development Bank.
    17. Böhm, Hannes & Eichler, Stefan & Gießler, Stefan, 2019. "What drives the commodity-sovereign-risk-dependence in emerging market economies?," IWH Discussion Papers 23/2019, Halle Institute for Economic Research (IWH).
    18. David Kohn & Fernando Leibovici & Håkon Tretvoll, 2021. "Trade in Commodities and Business Cycle Volatility," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(3), pages 173-208, July.
    19. Juvenal, Luciana & Petrella, Ivan, 2024. "Unveiling the dance of commodity prices and the global financial cycle," Journal of International Economics, Elsevier, vol. 150(C).
    20. Gondo, Rocío & Pérez, Fernando, 2018. "The Transmission of Exogenous Commodity and Oil Prices shocks to Latin America - A Panel VAR approach," Working Papers 2018-012, Banco Central de Reserva del Perú.
    21. Erik Frohm & Vanessa Gunnella, 2021. "Spillovers in global production networks," Review of International Economics, Wiley Blackwell, vol. 29(3), pages 663-680, August.
    22. Paulo Chávez & Gabriel Rodríguez, 2023. "Time changing effects of external shocks on macroeconomic fluctuations in Peru: empirical application using regime-switching VAR models with stochastic volatility," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 159(2), pages 505-544, May.
    23. Di Pace, Federico & Juvenal, Luciana & Petrella, Ivan, 2021. "Terms-of-trade shocks are not all alike," Bank of England working papers 901, Bank of England.
    24. Didier, Tatiana & Levine, Ross & Llovet Montanes, Ruth & Schmukler, Sergio L., 2021. "Capital market financing and firm growth," Journal of International Money and Finance, Elsevier, vol. 118(C).
    25. Ginn, William, 2024. "The paradox of fossil fuel subsidies," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 333-358.
    26. Sergio Urzua & Felipe Saffie & Felipe Benguria, 2017. "Demand Shocks and Labor Market Dynamics: Firm Level Responses to a Commodity Boom," 2017 Meeting Papers 1443, Society for Economic Dynamics.
    27. Junior A. Ojeda Cunya & Gabriel Rodríguez, 2022. "Time-Varying Effects of External Shocks on Macroeconomic Fluctuations in Peru: An Empirical Application using TVP-VAR- SV Models," Documentos de Trabajo / Working Papers 2022-507, Departamento de Economía - Pontificia Universidad Católica del Perú.
    28. Efrem Castelnuovo & Lorenzo Mori & Gert Peersman, 2024. "Commodity Price Shocks and Global Cycles: Monetary Policy Matters," CAMA Working Papers 2024-36, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
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    32. Dante A. Urbina & Gabriel Rodríguez, 2023. "Evolution of the effects of mineral commodity prices on fiscal fluctuations: empirical evidence from TVP-VAR-SV models for Peru," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 159(1), pages 153-184, February.
    33. Rebeca Jiménez-Rodríguez & Amalia Morales-Zumaquero, 2022. "Commodity price pass-through along the pricing chain," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 158(1), pages 109-125, February.
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    41. Yan Carrière‐Swallow & Nicolás E. Magud & Juan F. Yépez, 2021. "Exchange rate flexibility, the real exchange rate, and adjustment to terms‐of‐trade shocks," Review of International Economics, Wiley Blackwell, vol. 29(2), pages 439-483, May.
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    73. Mr. Markus Eberhardt & Mr. Andrea F Presbitero, 2018. "Commodity Price Movements and Banking Crises," IMF Working Papers 2018/153, International Monetary Fund.
    74. Bajraj, Gent & Lorca, Jorge & Wlasiuk, Juan M., 2023. "On foreign drivers of emerging markets fluctuations," Economic Modelling, Elsevier, vol. 129(C).
    75. Suescun, Rodrigo, 2020. "A tool for fiscal policy planning in a medium-term fiscal framework: The FMM-MTFF model," Economic Modelling, Elsevier, vol. 88(C), pages 431-446.
    76. Gent Bajraj & Jorge Lorca & Juan M. Wlasiuk, 2022. "On Foreign Drivers of EMEs Fluctuations," Working Papers Central Bank of Chile 951, Central Bank of Chile.
    77. Jean Pierre Fernández Prada Saucedo & Gabriel Rodríguez, 2020. "Modeling the Volatility of Returns on Commodities: An Application and Empirical Comparison of GARCH and SV Models," Documentos de Trabajo / Working Papers 2020-484, Departamento de Economía - Pontificia Universidad Católica del Perú.
    78. Corbo, Vesna & Di Casola, Paola, 2020. "Drivers of consumer prices and exchange rates in small open economies," Working Paper Series 387, Sveriges Riksbank (Central Bank of Sweden).
    79. Angélica Domínguez-Cardoza & Adelina Garamow & Josefin Meyer, 2022. "Global Commodity Markets and Sovereign Risk across 150 Years," Discussion Papers of DIW Berlin 2020, DIW Berlin, German Institute for Economic Research.
    80. Jasmien De Winne & Gert Peersman, 2021. "The adverse consequences of global harvest and weather disruptions on economic activity," Nature Climate Change, Nature, vol. 11(8), pages 665-672, August.
    81. Paul Carrillo-Maldonado & Javier Díaz-Cassou & Miguel Flores, 2023. "What are the main variables that influence the dynamics of Ecuador’s sovereign risk?," Journal of Applied Economics, Taylor & Francis Journals, vol. 26(1), pages 2158009-215, December.
    82. Òscar Jordà & Fernanda Nechio, 2020. "Inflation Globally," Central Banking, Analysis, and Economic Policies Book Series, in: Gonzalo Castex & Jordi Galí & Diego Saravia (ed.),Changing Inflation Dynamics,Evolving Monetary Policy, edition 1, volume 27, chapter 8, pages 269-316, Central Bank of Chile.
    83. Valencia, Oscar & Gomez-Gonzalez, Jose E. & Sánchez, Gustavo, 2022. "Debt Affordability in Developed and Emerging Market Economies: The Role of Fiscal Rules," IDB Publications (Working Papers) 12235, Inter-American Development Bank.
    84. Emilio Espino & Julian Kozlowski & Fernando M. Martin & Juan M. Sanchez, 2023. "External Shocks versus Domestic Policies in Emerging Markets," Review, Federal Reserve Bank of St. Louis, vol. 105(2), pages 108-121, April.
    85. Damian Romero, 2022. "Market Incompleteness, Consumption Heterogeneity and Commodity Price Shocks," Working Papers Central Bank of Chile 950, Central Bank of Chile.
    86. Abiad, Abdul & Qureshi, Irfan A., 2023. "The macroeconomic effects of oil price uncertainty," Energy Economics, Elsevier, vol. 125(C).
    87. Vadym Lepetyuk & Lilia Maliar & Serguei Maliar, 2017. "Should Central Banks Worry About Nonlinearities of their Large-Scale Macroeconomic Models?," Staff Working Papers 17-21, Bank of Canada.
    88. Paul Ho & Pierre-Daniel G. Sarte & Felipe Schwartzman, 2022. "Multilateral Comovement in a New Keynesian World: A Little Trade Goes a Long Way," Working Paper 22-10, Federal Reserve Bank of Richmond.
    89. Miloš Poliak & Ekaterina Salamakhina, 2024. "Ensuring Fair Compensation: Analyzing and Adjusting Freight Forwarder Liability Limits," Logistics, MDPI, vol. 8(2), pages 1-16, April.
    90. Villca, Alfredo, 2022. "Commodity prices, bank balance sheets and macroprudential policies in small open economies," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 3(1).
    91. Ahmed, Rashad, 2023. "Flights-to-safety and macroeconomic adjustment in emerging markets: The role of U.S. monetary policy," Journal of International Money and Finance, Elsevier, vol. 133(C).
    92. Belomestny, Denis & Krymova, Ekaterina & Polbin, Andrey, 2021. "Bayesian TVP-VARX models with time invariant long-run multipliers," Economic Modelling, Elsevier, vol. 101(C).
    93. Bernhard Tröster & Karin Küblböck, 2020. "Unprecedented but not Unpredictable: Effects of the COVID-19 Crisis on Commodity-Dependent Countries," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 32(5), pages 1430-1449, December.
    94. Horvath, Jaroslav & Rothman, Philip, 2021. "Mortgage spreads, asset prices, and business cycles in emerging countries," Journal of International Money and Finance, Elsevier, vol. 115(C).
    95. Alejandro Torres García & Laura Wberth Escobar, 2018. "Commodity Prices Shocks and the Balance Sheet Effect in Latin America," Documentos de Trabajo de Valor Público 16362, Universidad EAFIT.
    96. Presbitero, Andrea & Eberhardt, Markus, 2021. "Commodity Prices and Banking Crises," CEPR Discussion Papers 15959, C.E.P.R. Discussion Papers.
    97. Ahmed, Rashad, 2023. "Global commodity prices and macroeconomic fluctuations in a low interest rate environment," Energy Economics, Elsevier, vol. 127(PB).
    98. Alejandro Torres-García & Jaime Montoya-Arbeláez & Laura Wberth-Escobar, 2022. "Commodity price shocks and the balance sheet effect in emerging economies," Economic Change and Restructuring, Springer, vol. 55(4), pages 2081-2110, November.
    99. Jinan Liu & Apostolos Serletis, 2022. "World Commodity Prices and Economic Activity in Advanced and Emerging Economies," Open Economies Review, Springer, vol. 33(2), pages 347-374, April.
    100. Ben Zeev, Nadav & Pappa, Evi & Vicondoa, Alejandro, 2017. "Emerging economies business cycles: The role of commodity terms of trade news," Journal of International Economics, Elsevier, vol. 108(C), pages 368-376.
    101. Denis Belomestny & Ekaterina Krymova & Andrey Polbin, 2020. "Estimating TVP-VAR models with time invariant long-run multipliers," Papers 2008.00718, arXiv.org.
    102. Corbo, Vesna & Di Casola, Paola, 2022. "Drivers of consumer prices and exchange rates in small open economies," Journal of International Money and Finance, Elsevier, vol. 122(C).
    103. Tenreyro, Silvana & Drechsel, Thomas & McLeay, Michael, 2019. "Monetary policy for commodity booms and busts," CEPR Discussion Papers 14030, C.E.P.R. Discussion Papers.
    104. Barrail, Zulma, 2020. "Business cycle implications of rising household credit market participation in emerging countries," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).
    105. Kwabena Asomanin Anaman & Irene Susana Egyir, 2019. "Economic Shocks and the Growth of the Construction Industry in Ghana Over the 50-Year Period From 1968 to 2017," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(1), pages 1-16, June.
    106. Mikhail Andreev & M. Udara Peiris & Alexander Shirobokov & Dimitrios P. Tsomocos, 2024. "Commodity cycles and financial instability in emerging economies," Annals of Finance, Springer, vol. 20(2), pages 167-197, June.
    107. Mukhlis MUKHLIS & Raja MASBAR & Sofyan SYAHNUR & M. Shabri Abd. MAJID, 2020. "Dynamic Causalities Between World Oil Price And Indonesia’S Cocoa Market: Evidence From The 2008 Global Financial Crisis And The 2011 European Debt Crisis," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 217-233, June.
    108. Aysun, Uluc & Wright, Cardel, 2024. "A two-step dynamic factor modelling approach for forecasting inflation in small open economies," Emerging Markets Review, Elsevier, vol. 62(C).

  8. Schmitt-Grohé, Stephanie & Uribe, Martín, 2016. "Is Optimal Capital-Control Policy Countercyclical In Open-Economy Models With Collateral Constraints?," CEPR Discussion Papers 11619, C.E.P.R. Discussion Papers.

    Cited by:

    1. David Aikman & Julia Giese & Sujit Kapadia & Michael McLeay, 2023. "Targeting Financial Stability: Macroprudential or Monetary Policy?," International Journal of Central Banking, International Journal of Central Banking, vol. 19(1), pages 159-242, March.
    2. Carmiña O. Vargas & Julian A. Parra-Polania, 2017. "Optimal crisis interventions in an open economy with credit constraint," Borradores de Economia 989, Banco de la Republica de Colombia.
    3. Olivier Jeanne & Damiano Sandri, 2020. "Global Financial Cycle and Liquidity Management," NBER Working Papers 27901, National Bureau of Economic Research, Inc.
    4. Matschke, Johannes & Lovchikova, Marina, 2022. "Capital Controls and the Global Financial Cycle," VfS Annual Conference 2022 (Basel): Big Data in Economics 264039, Verein für Socialpolitik / German Economic Association.
    5. Gurnain Pasricha, 2017. "Policy Rules for Capital Controls," Staff Working Papers 17-42, Bank of Canada.
    6. Rafael Cezar & Eric Monnet, 2021. "Capital Controls and Foreign Reserves against External Shocks: Combined or Alone?," Working papers 849, Banque de France.
    7. Schmitt-Grohé, Stephanie & Uribe, Martín, 2021. "Reviving the Salter-Swan small open economy model," Journal of International Economics, Elsevier, vol. 130(C).
    8. Federico Bennett & Giselle Montamat & Francisco Roch, 2022. "Robust Optimal Macroprudential Policy," Working Papers 141, Red Nacional de Investigadores en Economía (RedNIE).
    9. Parimoo, Suneil, 2024. "Cycles and self-fulfilling crises in open economies with stock collateral constraints under impatience," Journal of Mathematical Economics, Elsevier, vol. 112(C).
    10. Yun Jung Kim & Jing Zhang, 2020. "International Capital Flows: Private Versus Public Flows in Developing and Developed Countries," Working Paper Series WP-2020-27, Federal Reserve Bank of Chicago.
    11. Pestova, Anna & Mamonov, Mikhail, 2019. "Should we care? The economic effects of financial sanctions on the Russian economy," BOFIT Discussion Papers 13/2019, Bank of Finland Institute for Emerging Economies (BOFIT).
    12. Siming Liu, 2018. "Spending Multiplier during Sudden Stop Crises," 2018 Meeting Papers 226, Society for Economic Dynamics.
    13. Flemming, Jean & L'Huillier, Jean-Paul & Piguillem, Facundo, 2019. "Macro-prudential taxation in good times," Journal of International Economics, Elsevier, vol. 121(C).
    14. Nakatani, Ryota, 2020. "Macroprudential policy and the probability of a banking crisis," Journal of Policy Modeling, Elsevier, vol. 42(6), pages 1169-1186.
    15. Andreas Schabert, 2021. "Optimal Corrective Policies under Financial Frictions," ECONtribute Discussion Papers Series 107, University of Bonn and University of Cologne, Germany.
    16. Julien Bengui & Javier Bianchi, 2018. "Macroprudential Policy with Leakages," Working Papers 754, Federal Reserve Bank of Minneapolis.
    17. Selim Elekdag & Maxwell Tuuli, 2023. "Weather shocks and exchange rate flexibility," Review of International Economics, Wiley Blackwell, vol. 31(5), pages 1793-1832, November.
    18. Masashige Hamano & Yuki Murakami, 2024. "Optimal Government Spending in a Collateral-Constrained Small Open Economy," Working Papers 2401, Waseda University, Faculty of Political Science and Economics.
    19. Robert A. McDowall, 2021. "Sovereign default and capital controls," Review of International Economics, Wiley Blackwell, vol. 29(4), pages 1025-1045, September.
    20. Siming Liu, 2018. "Government Spending during Sudden Stop Crises," CAEPR Working Papers 2018-002, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    21. Stephanie Schmitt-Grohé & Martín Uribe, 2020. "Deterministic Debt Cycles in Open Economies with Flow Collateral Constraints," NBER Working Papers 26613, National Bureau of Economic Research, Inc.
    22. Stephanie Guichard, 2017. "10 Years after the Global Financial Crisis: What Have We Learnt About International Capital Flows?," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 8(03), pages 1-30, October.
    23. Beshkar, Mostafa & Shourideh, Ali, 2020. "Optimal trade policy with trade imbalances," Journal of Monetary Economics, Elsevier, vol. 109(C), pages 65-82.
    24. David Moreno, 2018. "Institutional Quality and Sovereign Flows," Working Papers Central Bank of Chile 816, Central Bank of Chile.
    25. Liliana Varela, 2015. "Reallocation, Competition and Productivity: Evidence from a Financial Liberalization Episode," 2015 Meeting Papers 225, Society for Economic Dynamics.
    26. Gete, Pedro & Melkadze, Givi, 2020. "A quantitative model of international lending of last resort," Journal of International Economics, Elsevier, vol. 123(C).
    27. Seoane, Hernán D. & Yurdagul, Emircan, 2019. "Trend shocks and sudden stops," Journal of International Economics, Elsevier, vol. 121(C).
    28. Wishnu Mahraddika, 2021. "How effective is capital flow management? The Indonesian experience," Departmental Working Papers 2021-15, The Australian National University, Arndt-Corden Department of Economics.
    29. Miguel Acosta-Henao & Laura Alfaro & Andrés Fernández, 2020. "Sticky Capital Controls," NBER Working Papers 26997, National Bureau of Economic Research, Inc.
    30. Reyes-Heroles, Ricardo & Tenorio, Gabriel, 2020. "Macroprudential policy in the presence of external risks," Journal of International Economics, Elsevier, vol. 126(C).
    31. Dennis Bonam & Emmanuel De Veirman & Gavin Goy, 2020. "Should developed economies manage international capital flows?," Working Papers 702, DNB.
    32. Loipersberger, Florian & Matschke, Johannes, 2022. "Financial cycles and domestic policy choices," European Economic Review, Elsevier, vol. 143(C).

  9. Martín Uribe, 2016. "Is The Monetarist Arithmetic Unpleasant?," NBER Working Papers 22866, National Bureau of Economic Research, Inc.

    Cited by:

    1. Sergey E. Pekarski, 2015. "Tight Money and the Sustainability of Public Debt," HSE Working papers WP BRP 95/EC/2015, National Research University Higher School of Economics.
    2. Carlos Goncalves & Mauro Rodrigues & Fernando Genta, 2022. "Elusive Unpleasantness," Working Papers, Department of Economics 2022_16, University of São Paulo (FEA-USP).
    3. Tomás Marinozzi & Mariano Fernández, 2020. "Una breve revisón sobre la literatura de las metas de inflación," CEMA Working Papers: Serie Documentos de Trabajo. 755, Universidad del CEMA.
    4. Rodolfo E. Manuelli & Juan I. Vizcaino, 2017. "Monetary Policy with Declining Deficits: Theory and an Application to Recent Argentine Monetary Policy," Review, Federal Reserve Bank of St. Louis, vol. 99(4), pages 351-375.
    5. Federico Sturzenegger, 2019. "Macri´s Macro: The meandering road to stability and growth," Working Papers 135, Universidad de San Andres, Departamento de Economia, revised Oct 2019.

  10. Seunghoon Na & Stephanie Schmitt-Grohe & Martin Uribe & Vivian Z. Yue, 2015. "A model of the Twin Ds: optimal default and devaluation," FRB Atlanta CQER Working Paper 2015-1, Federal Reserve Bank of Atlanta.

    Cited by:

    1. Jorge Alonso-Ortiz & Esteban Colla & José-María Da-Rocha, 2017. "The productivity cost of sovereign default: evidence from the European debt crisis," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(4), pages 611-633, December.
    2. Javier Bianchi & César Sosa-Padilla, 2020. "Reserve Accumulation, Macroeconomic Stabilization, and Sovereign Risk," NBER Working Papers 27323, National Bureau of Economic Research, Inc.
    3. Ali, Amjad, 2022. "Determining Pakistan's Financial Dependency: The Role of Financial Globalization and Corruption," MPRA Paper 116097, University Library of Munich, Germany.
    4. Neele Balke, 2018. "The Employment Cost of Sovereign Default," 2018 Meeting Papers 1256, Society for Economic Dynamics.
    5. Enrico Mallucci, 2015. "Domestic Debt and Sovereign Defaults," International Finance Discussion Papers 1153, Board of Governors of the Federal Reserve System (U.S.).

  11. Stephanie Schmitt-Grohé & Martín Uribe, 2015. "How Important Are Terms Of Trade Shocks?," NBER Working Papers 21253, National Bureau of Economic Research, Inc.

    Cited by:

    1. Lopez-Martin, Bernabe & Leal, Julio & Martinez Fritscher, Andre, 2019. "Commodity price risk management and fiscal policy in a sovereign default model," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 304-323.
    2. Ali, Syed Zahid & Anwar, Sajid, 2018. "Anticipated versus unanticipated terms of trade shocks and the J-curve phenomenon," Journal of International Money and Finance, Elsevier, vol. 81(C), pages 1-19.
    3. Erten Bilge & Tuzcuoglu Kerem, 2018. "Output Effects of Global Food Commodity Shocks," Journal of Globalization and Development, De Gruyter, vol. 9(1), pages 1-18, June.
    4. Fernandez, Andres & Schmitt-Grohé, Stephanie & Uribe, Martin, 2017. "World Shocks, World Prices, and Business Cycles : An Empirical Investigation," IDB Publications (Working Papers) 8315, Inter-American Development Bank.
    5. Galego Mendes,Arthur & Pennings,Steven Michael, 2020. "One Rule Fits All ? Heterogeneous Fiscal Rules for Commodity Exporters When Price Shocks Can BePersistent: Theory and Evidence," Policy Research Working Paper Series 9400, The World Bank.
    6. Camilo Alberto Cárdenas-Hurtado & María Alejandra Hernández-Montes, 2019. "Understanding the Consumer Confidence Index in Colombia: A structural FAVAR analysis," Borradores de Economia 1063, Banco de la Republica de Colombia.
    7. Camilo Alberto Cárdenas-Hurtado & Aaron Levi Garavito-Acosta & Jorge Hernán Toro-Córdoba, 2018. "Asymmetric Effects of Terms of Trade Shocks on Tradable and Non-tradable Investment Rates: The Colombian Case," Borradores de Economia 1043, Banco de la Republica de Colombia.
    8. Rodriguez, Diego & Gonzalez, Andres & Fernandez, Andres, 2015. "Sharing a Ride on the Commodities Roller Coaster: Common Factors in Business Cycles of Emerging Economies," IDB Publications (Working Papers) 7382, Inter-American Development Bank.
    9. David Kohn & Fernando Leibovici & Håkon Tretvoll, 2021. "Trade in Commodities and Business Cycle Volatility," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(3), pages 173-208, July.
    10. Oviedo Gómez, Andrés Felipe & Sierra, Lya Paola, 2019. "The importance of terms of trade in the Colombian economy," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    11. Sergio Urzua & Felipe Saffie & Felipe Benguria, 2017. "Demand Shocks and Labor Market Dynamics: Firm Level Responses to a Commodity Boom," 2017 Meeting Papers 1443, Society for Economic Dynamics.
    12. Nadav Ben-Zeev & Evi Pappa & Alejandro Vicondoa, 2016. "Emerging Economies Business Cycles: The Role Of The Terms Of Trade Revisited," Working Papers 1610, Ben-Gurion University of the Negev, Department of Economics.
    13. Ning Zhang, 2017. "Two-way capital flows: A risk-sharing approach," Working Papers 2019_09, Business School - Economics, University of Glasgow.
    14. Aqib Aslam & Samya Beidas-Strom & Mr. Rudolfs Bems & Oya Celasun & Zsoka Koczan, 2016. "Trading on Their Terms? Commodity Exporters in the Aftermath of the Commodity Boom," IMF Working Papers 2016/027, International Monetary Fund.
    15. Martin Bodenstein & Gunes Kamber & Christoph Thoenissen, 2016. "Commodity prices and labour market dynamics in small open economies," Working Papers 2016005, The University of Sheffield, Department of Economics.
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    7. Xuan Wang, 2019. "When Do Currency Unions Benefit From Default ?," 2019 Papers pwa938, Job Market Papers.
    8. Helena Chuliá & Sabuhi Khalili & Jorge M. Uribe, 2024. "Monitoring time-varying systemic risk in sovereign debt and currency markets with generative AI," IREA Working Papers 202402, University of Barcelona, Research Institute of Applied Economics, revised Feb 2024.
    9. Patrick Augustin & Mikhail Chernov & Lukas Schmid & Dongho Song, 2020. "The Term Structure of Covered Interest Rate Parity Violations," NBER Working Papers 27231, National Bureau of Economic Research, Inc.
    10. Lu Yang & Lei Yang & Xue Cui, 2023. "Sovereign default network and currency risk premia," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-22, December.
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    35. Takefumi Yamazaki, 2018. "Financial friction sources in emerging economies: Structural estimation of sovereign default models," Discussion papers ron303, Policy Research Institute, Ministry of Finance Japan.
    36. Yan Bai & Seon Tae Kim & Gabriel P. Mihalache, 2015. "The Maturity and Payment Schedule of Sovereign Debt," NBER Working Papers 20896, National Bureau of Economic Research, Inc.
    37. Masaru Tsuruta, 2024. "Interaction between Sovereign Quanto Credit Default Swap Spreads and Currency Options," JRFM, MDPI, vol. 17(2), pages 1-33, February.
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    40. Jesse Schreger & Wenxin Du, 2014. "Sovereign Risk, Currency Risk, and Corporate Balance Sheets," Working Paper 209056, Harvard University OpenScholar.
    41. Maeng, F. S., 2024. "Default, Inflation Expectations, and the Currency Denomination of Sovereign Bonds," Cambridge Working Papers in Economics 2438, Faculty of Economics, University of Cambridge.
    42. Emilio Espino & Julian Kozlowski & Fernando M. Martin & Juan M. Sanchez, 2020. "Domestic Policies and Sovereign Default," Working Papers 2020-017, Federal Reserve Bank of St. Louis, revised 06 Sep 2023.
    43. Xuan Wang, 2021. "Bankruptcy Codes and Risk Sharing of Currency Unions," Tinbergen Institute Discussion Papers 21-009/IV, Tinbergen Institute.
    44. Mikhail Chernov & Drew Creal & Peter Hördahl, 2019. "Determinants of Asia-Pacific government bond yields," BIS Papers chapters, in: Bank for International Settlements (ed.), Asia-Pacific fixed income markets: evolving structure, participation and pricing, volume 102, pages 29-39, Bank for International Settlements.
    45. Bernardo Guimaraes & Lucas Tumkus, 2020. "On the costs of sovereign default in quantitative models," Discussion Papers 2021, Centre for Macroeconomics (CFM).
    46. Martin Wolf, 2018. "Optimal Prudential Policy in Economies with Downward Wage Rigidity," Vienna Economics Papers vie1804, University of Vienna, Department of Economics.
    47. Bonaccolto, Giovanni & Borri, Nicola & Consiglio, Andrea, 2023. "Breakup and default risks in the great lockdown," Journal of Banking & Finance, Elsevier, vol. 147(C).
    48. Della Corte, Pasquale & Jeanneret, Alexandre & Patelli, Ella D.S., 2023. "A credit-based theory of the currency risk premium," Journal of Financial Economics, Elsevier, vol. 149(3), pages 473-496.
    49. Giraldo, Carlos & Giraldo, Iader & Gomez-Gonzalez, Jose E. & Uribe, Jorge M., 2024. "Term Spread Spillovers to Latin America and Emergence of the ‘Twin Ds’," Documentos de trabajo 21169, FLAR.
    50. Zheng, Huanhuan, 2023. "Sovereign debt responses to the COVID-19 pandemic," Journal of International Economics, Elsevier, vol. 143(C).
    51. Ritschl, Albrecht, 2023. "Knut Borchardt - Brecht-Schüler, Skeptiker, Krisenhistoriker," LSE Research Online Documents on Economics 118541, London School of Economics and Political Science, LSE Library.
    52. Charles Serfaty, 2022. "Sovereign Debt and International Trade," Working papers 901, Banque de France.
    53. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
    54. Yuta Saito, 2022. "A Note on Time Inconsistency and Endogenous Exits from a Currency Union," Games, MDPI, vol. 13(2), pages 1-8, February.
    55. Yuki MASUJIMA & Yuki SATO, 2024. "Drivers of Post-pandemic Currency Movement: Recurring impacts of sovereign risks and oil prices," Discussion papers 24054, Research Institute of Economy, Trade and Industry (RIETI).
    56. Mikhail Chernov & Magnus Dahlquist & Lars Lochstoer, 2023. "Pricing Currency Risks," Journal of Finance, American Finance Association, vol. 78(2), pages 693-730, April.
    57. Roettger, Joost, 2019. "Discretionary monetary and fiscal policy with endogenous sovereign risk," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 44-66.
    58. Yasin Kürsat Önder & Enes Sunel, 2021. "Default of Depreciate," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 21/1023, Ghent University, Faculty of Economics and Business Administration.
    59. Cristina Arellano & Yan Bai & Gabriel Mihalache, 2020. "Monetary Policy and Sovereign Risk in Emerging Economies (NK-Default)," Staff Report 592, Federal Reserve Bank of Minneapolis.
    60. Stangebye, Zachary, 2015. "Dynamic Panics: Theory and Application to the Eurozone," MPRA Paper 69967, University Library of Munich, Germany.

  14. Martin Uribe & Alessandro Rebucci & Andres Fernandez, 2014. "Are Capital Controls Prudential? An Empirical Investigation," 2014 Meeting Papers 951, Society for Economic Dynamics.

    Cited by:

    1. Nicolas E. Magud & Carmen M. Reinhart & Kenneth S. Rogoff, 2011. "Capital Controls: Myth and Reality--A Portfolio Balance Approach," CEMA Working Papers 608, China Economics and Management Academy, Central University of Finance and Economics.
    2. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric R. Young, 2011. "Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective," Discussion Papers 1512, Centre for Macroeconomics (CFM), revised Feb 2015.
    3. Li, Jie & Rajan, Ramkishen S., 2015. "Do capital controls make gross equity flows to emerging markets less volatile?," Journal of International Money and Finance, Elsevier, vol. 59(C), pages 220-244.
    4. Bechlioulis, Alexandros & Economidou, Claire & Karamanis, Dimitrios & Konstantios, Dimitrios, 2023. "How important are capital controls in shaping innovation activity?," Journal of International Money and Finance, Elsevier, vol. 131(C).
    5. G. Bush, 2019. "Financial Development and the Effects of Capital Controls," Open Economies Review, Springer, vol. 30(3), pages 559-592, July.
    6. Ignacio Presno & Scott Davis, 2015. "Capital Controls as an Instrument of Monetary Policy," 2015 Meeting Papers 1167, Society for Economic Dynamics.
    7. Agénor, Pierre-Richard & Jia, Pengfei, 2020. "Capital controls and welfare with cross-border bank capital flows," Journal of Macroeconomics, Elsevier, vol. 65(C).
    8. Alfaro, Laura & Chari, Anusha & Kanczuk, Fabio, 2017. "The real effects of capital controls: Firm-level evidence from a policy experiment," Journal of International Economics, Elsevier, vol. 108(C), pages 191-210.
    9. Athanasios Tsagkanos & Konstantinos Gkillas & Christoforos Konstantatos & Christos Floros, 2021. "Does Trading Volume Drive Systemic Banks’ Stock Return Volatility? Lessons from the Greek Banking System," IJFS, MDPI, vol. 9(2), pages 1-13, April.
    10. Giordani, Paolo E. & Ruta, Michele & Weisfeld, Hans & Zhu, Ling, 2017. "Capital flow deflection," Journal of International Economics, Elsevier, vol. 105(C), pages 102-118.
    11. Cantú, Carlos, 2019. "Effects of capital controls on foreign exchange liquidity," Journal of International Money and Finance, Elsevier, vol. 93(C), pages 201-222.
    12. Bijsterbosch, Martin & Falagiarda, Matteo & Pasricha, Gurnain & Aizenman, Joshua, 2015. "Domestic and multilateral effects of capital controls in emerging markets," Working Paper Series 1844, European Central Bank.
    13. Stephanie Guichard, 2017. "10 Years after the Global Financial Crisis: What Have We Learnt About International Capital Flows?," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 8(03), pages 1-30, October.
    14. Adler, Gustavo & Lisack, Noëmie & Mano, Rui C., 2019. "Unveiling the effects of foreign exchange intervention: A panel approach," Emerging Markets Review, Elsevier, vol. 40(C), pages 1-1.
    15. Eichengreen, Barry & Rose, Andrew, 2014. "Capital Controls in the 21st Century," Journal of International Money and Finance, Elsevier, vol. 48(PA), pages 1-16.
    16. Samitas, Aristeidis & Polyzos, Stathis, 2016. "Freeing Greece from capital controls: Were the restrictions enforced in time?," Research in International Business and Finance, Elsevier, vol. 37(C), pages 196-213.

  15. Uribe, Martín & Schmitt-Grohé, Stephanie, 2012. "Prudential Policy for Peggers," CEPR Discussion Papers 8961, C.E.P.R. Discussion Papers.

    Cited by:

    1. Fernández Martín, Andrés & Klein, Michael W. & Rebucci, Alessandro & Schindler, Martin & Uribe, Martin, 2015. "Capital Control Measures: A New Dataset," IDB Publications (Working Papers) 6814, Inter-American Development Bank.
    2. Takáts, Előd & Temesvary, Judit, 2021. "How does the interaction of macroprudential and monetary policies affect cross-border bank lending?," Journal of International Economics, Elsevier, vol. 132(C).
    3. Javier Bianchi & Enrique Mendoza, 2015. "Optimal Time-Consistent Macroprudential Policy," PIER Working Paper Archive 15-032, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Aug 2015.
    4. Rafael Cezar & Eric Monnet, 2021. "Capital Controls and Foreign Reserves against External Shocks: Combined or Alone?," Working papers 849, Banque de France.
    5. Olivier Jeanne, 2012. "Capital Account Policies and the Real Exchange Rate," NBER Chapters, in: NBER International Seminar on Macroeconomics 2012, pages 7-42, National Bureau of Economic Research, Inc.
    6. J. Scott Davis & Ippei Fujiwara & Kevin X. D. Huang & Jiao Wang, 2019. "Foreign Exchange Reserves as a Tool for Capital Account Management," Globalization Institute Working Papers 352, Federal Reserve Bank of Dallas.
    7. Carlos Hurtado, 2012. "The Euro Experience: A Review of the Euro Crisis, Policy Issues, Issues Going Forward and Policy Implications for Latin America," Research Department Publications 4786, Inter-American Development Bank, Research Department.
    8. Olivier Jeanne, 2014. "Macroprudential Policies in a Global Perspective," NBER Working Papers 19967, National Bureau of Economic Research, Inc.
    9. Ignacio Presno & Scott Davis, 2015. "Capital Controls as an Instrument of Monetary Policy," 2015 Meeting Papers 1167, Society for Economic Dynamics.
    10. Mitsuru Katagiri & Ryo Kato & Takayuki Tsuruga, 2017. "Prudential capital controls or bailouts? The impact of different collateral constraint assumptions," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 63(4), pages 943-960, April.
    11. Michael W. Klein & Jay C. Shambaugh, 2013. "Rounding the Corners of the Policy Trilemma: Sources of Monetary Policy Autonomy," NBER Working Papers 19461, National Bureau of Economic Research, Inc.
    12. Lorena Keller, 2018. "Prudential Capital Controls and Risk Misallocation: Bank Lending Channel," 2018 Meeting Papers 129, Society for Economic Dynamics.
    13. Alfred Duncan & Charles Nolan, 2020. "Reform of the UK Financial Policy Committee," Scottish Journal of Political Economy, Scottish Economic Society, vol. 67(1), pages 1-30, February.
    14. Agénor, Pierre-Richard & Jia, Pengfei, 2020. "Capital controls and welfare with cross-border bank capital flows," Journal of Macroeconomics, Elsevier, vol. 65(C).
    15. Hao Jin, 2015. "Foreign Exchange Interventions, Capital Controls and Monetary Policy: The Case of China," CAEPR Working Papers 2015-019, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    16. Benigno, Gianluca & Chen, Huigang & Otrok, Christopher & Rebucci, Alessandro & Young, Eric R., 2013. "Capital Controls or Real Exchange Rate Policy?: A Pecuniary Externality Perspective," IDB Publications (Working Papers) 4246, Inter-American Development Bank.
    17. Choi, Jae Hoon, 2020. "Capital controls and foreign exchange market intervention," Journal of International Money and Finance, Elsevier, vol. 101(C).
    18. Charles Nolan & Plutarchos Sakellaris & John D. Tsoukalas, 2016. "Optimal Bailout of Systemic Banks," Working Papers 201607, Athens University Of Economics and Business, Department of Economics.
    19. Michaud, Amanda & Rothert, Jacek, 2014. "Optimal borrowing constraints and growth in a small open economy," Journal of International Economics, Elsevier, vol. 94(2), pages 326-340.
    20. Cantú, Carlos, 2019. "Effects of capital controls on foreign exchange liquidity," Journal of International Money and Finance, Elsevier, vol. 93(C), pages 201-222.
    21. Bijsterbosch, Martin & Falagiarda, Matteo & Pasricha, Gurnain & Aizenman, Joshua, 2015. "Domestic and multilateral effects of capital controls in emerging markets," Working Paper Series 1844, European Central Bank.
    22. Benigno, Gianluca & Fornaro, Luca, 2013. "The Financial Resource Curse," CEPR Discussion Papers 9489, C.E.P.R. Discussion Papers.
    23. Petrović, Marko & Ozel, Bulent & Teglio, Andrea & Raberto, Marco & Cincotti, Silvano, 2020. "Should I stay or should I go? An agent-based setup for a trading and monetary union," Journal of Economic Dynamics and Control, Elsevier, vol. 113(C).
    24. Alfred Duncan & Charles Nolan, 2015. "Objectives and Challenges of Macroprudential Policy," Working Papers 2015_22, Business School - Economics, University of Glasgow.
    25. Dmitriy Sergeyev, 2016. "Optimal Macroprudential and Monetary Policy in a Currency Union," 2016 Meeting Papers 463, Society for Economic Dynamics.
    26. Stelios Arvanitis & Alexandros Louka, 2015. "Martingale Transforms with Mixed Stable Limits and the QMLE for Conditionally Heteroskedastic Models," Working Papers 201508, Athens University Of Economics and Business, Department of Economics.
    27. D. Filiz Unsal, 2013. "Capital Flows and Financial Stability: Monetary Policy and Macroprudential Responses," International Journal of Central Banking, International Journal of Central Banking, vol. 9(1), pages 233-285, March.
    28. Michael B. Devereux & Changhua Yu, 2017. "Exchange Rate Adjustment in Financial Crises," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 528-562, August.
    29. Prasad, Nalini, 2018. "Sterilized interventions and capital controls," Journal of International Money and Finance, Elsevier, vol. 88(C), pages 101-121.
    30. Roberto Chang & Andrés Velasco, 2016. "Financial Frictions and Unconventional Monetary Policy in Emerging Economies," NBER Working Papers 21955, National Bureau of Economic Research, Inc.
    31. Davis, J. Scott & Presno, Ignacio, 2017. "Capital controls and monetary policy autonomy in a small open economy," Journal of Monetary Economics, Elsevier, vol. 85(C), pages 114-130.
    32. Mendicino, Caterina & Punzi, Maria Teresa, 2014. "House Prices, Capital Inflows and Macroprudential Policy," Department of Economics Working Paper Series 180, WU Vienna University of Economics and Business.
    33. Akram, Gilal Muhammad & Byrne, Joseph P., 2015. "Foreign exchange market pressure and capital controls," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 37(C), pages 42-53.
    34. Korinek, Anton, 2018. "Regulating capital flows to emerging markets: An externality view," Journal of International Economics, Elsevier, vol. 111(C), pages 61-80.
    35. Michael B. Devereux & James Yetman, 2014. "Capital Controls, Global Liquidity Traps, and the International Policy Trilemma," Scandinavian Journal of Economics, Wiley Blackwell, vol. 116(1), pages 158-189, January.
    36. Mitchener, Kris & Wandschneider, Kirsten, 2014. "Capital Controls and Recovery from the Financial Crisis of the 1930s," CEPR Discussion Papers 10019, C.E.P.R. Discussion Papers.
    37. Gabriel Fagan & Paul McNelis, 2014. "TARGET Balances and Macroeconomic Adjustment to Sudden Stops in the Euro Area," The Institute for International Integration Studies Discussion Paper Series iiisdp465, IIIS, revised Dec 2014.
    38. Eichengreen, Barry & Rose, Andrew, 2014. "Capital Controls in the 21st Century," Journal of International Money and Finance, Elsevier, vol. 48(PA), pages 1-16.
    39. Lorenzoni, Guido, 2014. "International Financial Crises," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 689-740, Elsevier.
    40. Javier Bianchi, 2012. "Comment on "Capital Account Policies and the Real Exchange Rate"," NBER Chapters, in: NBER International Seminar on Macroeconomics 2012, pages 43-48, National Bureau of Economic Research, Inc.

  16. Martin Uribe & Stephanie Schmitt-Grohe, 2012. "Pegs and Pain," 2012 Meeting Papers 303, Society for Economic Dynamics.

    Cited by:

    1. Sihao Chen & Michael B. Devereux & Jenny Xu & Kang Shi, 2018. "Exchange Rates, Local Currency Pricing and International Tax Policies," NBER Working Papers 25111, National Bureau of Economic Research, Inc.
    2. Xing Guo & Pablo Ottonello & Diego J. Perez, 2023. "Monetary Policy and Redistribution in Open Economies," Journal of Political Economy Macroeconomics, University of Chicago Press, vol. 1(1), pages 191-241.
    3. Paul D. McNelis, 2014. "Finding Stability in a Time of Crisis: Lessons of East Asia for Eastern Europe," Working Papers 052014, Hong Kong Institute for Monetary Research.
    4. Markus Brunnermeier & Yuliy Sannikov, 2015. "International Credit Flows and Pecuniary Externalities," CESifo Working Paper Series 5170, CESifo.
    5. Oleg Itskhoki & Gita Gopinath & Emmanuel Farhi, 2011. "Fiscal Devaluations," 2011 Meeting Papers 406, Society for Economic Dynamics.
    6. Stephanie Schmitt-Grohé & Martín Uribe, 2012. "Managing Currency Pegs," NBER Working Papers 18092, National Bureau of Economic Research, Inc.
    7. Farmer, Roger, 2012. "The Evolution of Endogenous Business Cycles," CEPR Discussion Papers 9080, C.E.P.R. Discussion Papers.
    8. Luca Fornaro, 2014. "Financial crises and exchange rate policy," Economics Working Papers 1431, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2014.
    9. Ricardo Reis, 2013. "The Portuguese Slump and Crash and the Euro Crisis," NBER Working Papers 19288, National Bureau of Economic Research, Inc.
    10. Benigno, Gianluca & Fornaro, Luca & Converse, Nathan, 2015. "Large Capital Inflows, Sectoral Allocation and Economic Performance," CEPR Discussion Papers 10554, C.E.P.R. Discussion Papers.
    11. Martin Berka & Michael B. Devereux & Charles Engel, 2017. "Real Exchange Rates and Sectoral Productivity in the Eurozone," Working Papers 1, New Zealand Centre of Macroeconomics.
    12. Luca Fornaro & Gianluca Benigno, 2015. "Stagnation Traps," 2015 Meeting Papers 810, Society for Economic Dynamics.
    13. Epstein, Brendan & Finkelstein Shapiro, Alan & González Gómez, Andrés, 2019. "Global financial risk, aggregate fluctuations, and unemployment dynamics," Journal of International Economics, Elsevier, vol. 118(C), pages 351-418.
    14. Zhen Huo & José-Víctor Ríos-Rull, 2013. "Paradox of Thrift Recessions," NBER Working Papers 19443, National Bureau of Economic Research, Inc.
    15. Thomas Mertens & Tarek Hassan, 2017. "Currency Manipulation," 2017 Meeting Papers 175, Society for Economic Dynamics.
    16. Gauti Eggertsson & Neil Mehrotra & Sanjay Singh & Lawrence Summers, 2016. "A Contagious Malady? Open Economy Dimensions of Secular Stagnation," 2016 Meeting Papers 1701, Society for Economic Dynamics.
    17. Dejanir Silva, 2019. "Optimal Fiscal Consolidation in a Currency Union," 2019 Meeting Papers 1338, Society for Economic Dynamics.
    18. Jordi Galí & Tommaso Monacelli, 2016. "Understanding the Gains from Wage Flexibility: The Exchange Rate Connection," NBER Working Papers 22489, National Bureau of Economic Research, Inc.
    19. Giulio Fella & Antonello d'Alessandro, 2017. "Fiscal Stimulus with Learning-By-Doing," Working Papers 826, Queen Mary University of London, School of Economics and Finance.
    20. Adebayo Augustine Kutu & Harold Ngalawa, 2017. "Modelling Exchange Rate Volatility and Global Shocks in South Africa," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 13(3), pages 178-193, JUNE.
    21. Hyuk Jae Rhee & Jeongseok Song, 2017. "Real Wage Flexibility, Economic Fluctuations, and Exchange Rate Regimes," Open Economies Review, Springer, vol. 28(4), pages 633-659, September.
    22. Baqaee, David Rezza, 2020. "Asymmetric inflation expectations, downward rigidity of wages, and asymmetric business cycles," Journal of Monetary Economics, Elsevier, vol. 114(C), pages 174-193.
    23. Tarek A. Hassan & Thomas M. Mertens & Tony Zhang, 2016. "A Risk-based Theory of Exchange Rate Stabilization," NBER Working Papers 22790, National Bureau of Economic Research, Inc.
    24. Fornaro, Luca, 2015. "International Debt Deleveraging," CEPR Discussion Papers 10469, C.E.P.R. Discussion Papers.
    25. Anton Korinek & Alp Simsek, 2016. "Liquidity Trap and Excessive Leverage," American Economic Review, American Economic Association, vol. 106(3), pages 699-738, March.
    26. Horst Feldmann, 2013. "Exchange Rate Regimes and Unemployment," Open Economies Review, Springer, vol. 24(3), pages 537-553, July.
    27. Akıncı, Özge, 2013. "Global financial conditions, country spreads and macroeconomic fluctuations in emerging countries," Journal of International Economics, Elsevier, vol. 91(2), pages 358-371.
    28. Anete Pajuste & Hernán Ruffo, 2017. "Wage rigidity and workers’ flows during recessions," SSE Riga/BICEPS Research Papers 4, Baltic International Centre for Economic Policy Studies (BICEPS);Stockholm School of Economics in Riga (SSE Riga).
    29. Fagan, Gabriel & McNelis, Paul D., 2020. "Sudden stops in the Euro Area: Does monetary union matter?," Journal of International Money and Finance, Elsevier, vol. 108(C).
    30. Chan Wang & Heng-fu Zou, 2015. "Optimal Monetary Policy Under a Global Dollar Standard: The Effect of Vertical Trade and Production," Open Economies Review, Springer, vol. 26(1), pages 121-137, February.
    31. Zhen Huo & Jose-Victor Rios-Rull, 2020. "Demand Induced Fluctuations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 99-117, August.
    32. Uribe, Martín & Schmitt-Grohé, Stephanie, 2012. "The Case For Temporary Inflation in the Eurozone," CEPR Discussion Papers 9133, C.E.P.R. Discussion Papers.
    33. Mandelman, Federico S., 2013. "Monetary and exchange rate policy under remittance fluctuations," Journal of Development Economics, Elsevier, vol. 102(C), pages 128-147.
    34. Horvath, Jaroslav & Zhong, Jiansheng, 2019. "Unemployment dynamics in emerging countries: Monetary policy and external shocks," Economic Modelling, Elsevier, vol. 76(C), pages 31-49.
    35. Horvath, Jaroslav & Rothman, Philip, 2021. "Mortgage spreads, asset prices, and business cycles in emerging countries," Journal of International Money and Finance, Elsevier, vol. 115(C).
    36. Ozge Akinci & Albert Queraltó, 2014. "Banks, Capital Flows and Financial Crises," International Finance Discussion Papers 1121, Board of Governors of the Federal Reserve System (U.S.).
    37. Steven Pennings & Mrs. Esther Perez Ruiz, 2013. "Fiscal Consolidations and Growth: Does Speed Matter?," IMF Working Papers 2013/230, International Monetary Fund.
    38. Berghäll, Pii Elina, 2013. "Miksi eurosta kannattaa erota [Why Finland should abandon the euro]," MPRA Paper 68830, University Library of Munich, Germany, revised 15 Jan 2016.
    39. Gabriel Fagan & Paul McNelis, 2014. "TARGET Balances and Macroeconomic Adjustment to Sudden Stops in the Euro Area," The Institute for International Integration Studies Discussion Paper Series iiisdp465, IIIS, revised Dec 2014.
    40. Zhen Huo & José-Víctor Ríos-Rull, 2013. "Engineering a paradox of thrift recession," FRB Atlanta CQER Working Paper 2013-03, Federal Reserve Bank of Atlanta.
    41. Harold Ngalawa & Adebayo Augustine Kutu, 2017. "Modelling exchange rate variations and global shocks in Brazil," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 35(1), pages 73-95.

  17. Uribe, Martín & Schmitt-Grohé, Stephanie, 2012. "The Case For Temporary Inflation in the Eurozone," CEPR Discussion Papers 9133, C.E.P.R. Discussion Papers.

    Cited by:

    1. Gabriel Fagan & Paul McNelis, 2014. "TARGET Balances and Macroeconomic Adjustment to Sudden Stops in the Euro Area," The Institute for International Integration Studies Discussion Paper Series iiisdp465, IIIS, revised Dec 2014.

  18. Stephanie Schmitt-Grohé & Martín Uribe, 2012. "Managing Currency Pegs," NBER Working Papers 18092, National Bureau of Economic Research, Inc.

    Cited by:

    1. J. Scott Davis & Ippei Fujiwara & Kevin X. D. Huang & Jiao Wang, 2019. "Foreign Exchange Reserves as a Tool for Capital Account Management," Globalization Institute Working Papers 352, Federal Reserve Bank of Dallas.
    2. Rendahl, Pontus, 2014. "Fiscal policy in an unemployment crisis," LSE Research Online Documents on Economics 58132, London School of Economics and Political Science, LSE Library.
    3. Andini, Corrado, 2023. "Exchange-rate policy, institutions and wages: A macroeconomic quasi-experiment from Italy, 1997–2000," International Economics, Elsevier, vol. 175(C), pages 158-170.
    4. Andone, Irina & Scheubel, Beatrice, 2019. "Once bitten: new evidence on the link between IMF conditionality and IMF stigma," Working Paper Series 2262, European Central Bank.
    5. Stephanie Schmitt-Grohé & Martin Uribe, 2013. "Downward Nominal Wage Rigidity and the Case for Temporary Inflation in the Eurozone," Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 193-212, Summer.
    6. Bianca De Paoli & Anna Lipinska, 2013. "Capital controls: a normative analysis," Staff Reports 600, Federal Reserve Bank of New York.
    7. Raouf Boucekkine & Aude Pommeret & Fabien Prieur, 2012. "On the timing and optimality of capital controls: Public expenditures, debt dynamics and welfare," Cahiers de Recherches Economiques du Département d'économie 12.01, Université de Lausanne, Faculté des HEC, Département d’économie.
    8. Horst Feldmann, 2013. "Exchange Rate Regimes and Unemployment," Open Economies Review, Springer, vol. 24(3), pages 537-553, July.
    9. Fagan, Gabriel & McNelis, Paul D., 2020. "Sudden stops in the Euro Area: Does monetary union matter?," Journal of International Money and Finance, Elsevier, vol. 108(C).
    10. Davis, J. Scott & Presno, Ignacio, 2017. "Capital controls and monetary policy autonomy in a small open economy," Journal of Monetary Economics, Elsevier, vol. 85(C), pages 114-130.
    11. Akram, Gilal Muhammad & Byrne, Joseph P., 2015. "Foreign exchange market pressure and capital controls," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 37(C), pages 42-53.
    12. García-Cicco, Javier & Kawamura, Enrique, 2015. "Dealing with the Dutch Disease: Fiscal Rules and Macro-Prudential Policies," IDB Publications (Working Papers) 7087, Inter-American Development Bank.
    13. Andini, Corrado, 2014. "Fixed Exchange-Rate Policy and Real Wage Growth: Quasi-Experimental Evidence," IZA Discussion Papers 8701, Institute of Labor Economics (IZA).
    14. Irina Andone & Beatrice D. Scheubel, 2017. "Memorable Encounters? Own and Neighbours' Experience with IMF Conditionality and IMF Stigma," CESifo Working Paper Series 6399, CESifo.
    15. Eichengreen, Barry & Rose, Andrew, 2014. "Capital Controls in the 21st Century," Journal of International Money and Finance, Elsevier, vol. 48(PA), pages 1-16.

  19. Stephanie Schmitt-Grohé & Martín Uribe, 2012. "Pegs, Downward Wage Rigidity, and Unemployment: The Role of Financial Structure," NBER Working Papers 18223, National Bureau of Economic Research, Inc.

    Cited by:

    1. Farmer, Roger, 2012. "The Evolution of Endogenous Business Cycles," CEPR Discussion Papers 9080, C.E.P.R. Discussion Papers.
    2. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
    3. Jonathan Hoddenbagh & Mikhail Dmitriev, 2013. "The Optimal Design of a Fiscal Union," 2013 Papers pho497, Job Market Papers.
    4. Mr. Ruy Lama & Mr. Pau Rabanal, 2012. "Deciding to Enter a Monetary Union: TheRole of Trade and Financial Linkages," IMF Working Papers 2012/240, International Monetary Fund.
    5. Nadav Ben Zeev, 2019. "Identification of Sign-Dependency of Impulse Responses," Working Papers 1907, Ben-Gurion University of the Negev, Department of Economics.
    6. Miguel Fuentes D. & Claudio E. Raddatz & Carmen M. Reinhart, 2014. "Capital Mobility and Monetary Policy: An Overview," Central Banking, Analysis, and Economic Policies Book Series, in: Miguel Fuentes D. & Claudio E. Raddatz & Carmen M. Reinhart (ed.),Capital Mobility and Monetary Policy, edition 1, volume 18, chapter 1, pages 1-23, Central Bank of Chile.
    7. Dmitriev, Mikhail & Hoddenbagh, Jonathan, 2019. "Optimal fiscal transfers in a monetary union," Journal of International Economics, Elsevier, vol. 117(C), pages 91-108.
    8. Jordan Roulleau-Pasdeloup, 2016. "The Government Spending Multiplier in a Deep Recession," Cahiers de Recherches Economiques du Département d'économie 16.22, Université de Lausanne, Faculté des HEC, Département d’économie.
    9. Ben Zeev, Nadav, 2019. "Global credit supply shocks and exchange rate regimes," Journal of International Economics, Elsevier, vol. 116(C), pages 1-32.

  20. Uribe, Martín & Schmitt-Grohé, Stephanie, 2012. "The Making Of A Great Contraction With A Liquidity Trap and A Jobless Recovery," CEPR Discussion Papers 9237, C.E.P.R. Discussion Papers.

    Cited by:

    1. Schnell, Fabian, 2013. "Can Monetary Policy Delay the Reallocation of Capital?," Economics Working Paper Series 1329, University of St. Gallen, School of Economics and Political Science.
    2. Gilles Dufrénot & Guillaume A. Khayat, 2017. "Monetary Policy Switching in the Euro Area and Multiple Steady States: An Empirical Investigation," Post-Print hal-01590000, HAL.
    3. John Grigsby & Erik Hurst, 2019. "Aggregate Nominal Wage Adjustments: New Evidence from Administrative Payroll Data," 2019 Meeting Papers 153, Society for Economic Dynamics.
    4. Giorgio Liotti & Rosaria Rita Canale, 2021. "Trust in the European Union project and the role of ECB," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 38(2), pages 461-482, July.
    5. S. BoraÄŸan Aruoba & Pablo Cuba-Borda & Frank Schorfheide, 2012. "Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries," PIER Working Paper Archive 14-035, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 19 Jun 2014.
    6. Matthew Rognlie & Andrei Shleifer & Alp Simsek, 2014. "Investment Hangover and the Great Recession," NBER Working Papers 20569, National Bureau of Economic Research, Inc.
    7. Nathaniel Throckmorton & Benjamin Keen & Alexander Richter & William Gavin, 2013. "Global Dynamics at the Zero Lower Bound," 2013 Meeting Papers 839, Society for Economic Dynamics.
    8. Francesco Bianchi & Leonardo Melosi, 2017. "The Dire Effects of the Lack of Monetary and Fiscal Coordination," NBER Working Papers 23605, National Bureau of Economic Research, Inc.
    9. Corsetti, Giancarlo & Mavroeidi, Eleonora & Thwaites, Gregory & Wolf, Martin, 2017. "Step away from the zero lower bound: small open economies in a world of secular stagnation," Bank of England working papers 666, Bank of England.
    10. Juan F. Jimeno, 2015. "Long-lasting consequences of the European crisis," Working Papers 1522, Banco de España.
    11. Bianchi, Francesco & Melosi, Leonardo, 2013. "Escaping the Great Recession," CEPR Discussion Papers 9643, C.E.P.R. Discussion Papers.
    12. Luca Fornaro & Gianluca Benigno, 2015. "Stagnation Traps," 2015 Meeting Papers 810, Society for Economic Dynamics.
    13. Piguillem, Facundo & Grasso, Adriana & Passadore, Juan, 2020. "The Macroeconomics of Hedging Income Shares," CEPR Discussion Papers 14732, C.E.P.R. Discussion Papers.
    14. Piotr Ciżkowicz & Andrzej Rzońca, 2015. "Inflation Targeting and its Discontents: The Case of Poland," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 65(supplemen), pages 107-122, December.
    15. Gavin, William T. & Keen, Benjamin D. & Richter, Alexander W. & Throckmorton, Nathaniel A., 2015. "The zero lower bound, the dual mandate, and unconventional dynamics," Journal of Economic Dynamics and Control, Elsevier, vol. 55(C), pages 14-38.
    16. Zhen Huo & José-Víctor Ríos-Rull, 2013. "Paradox of Thrift Recessions," NBER Working Papers 19443, National Bureau of Economic Research, Inc.
    17. Roos Michael W. M., 2015. "Die Komplexitätsökonomik und ihre Implikationen für die Wirtschaftspolitik," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 16(4), pages 379-392, December.
    18. Piotr Cizkowicz & Andrzej Rzonca & Andrzej Toroj, 2015. "In search for appropriate lower bound.Zero lower bound vs. positive lower bound under discretion and commitment," NBP Working Papers 215, Narodowy Bank Polski.
    19. Lepetyuk, Vadym & Maliar, Serguei, 2019. "When the U.S. catches a cold, Canada sneezes: a lower-bound tale told by deep learning," CEPR Discussion Papers 14025, C.E.P.R. Discussion Papers.
    20. Pusateri, Nic, 2023. "Human capital heterogeneity of the unemployed and jobless recoveries," Journal of Macroeconomics, Elsevier, vol. 76(C).
    21. Juan Passadore & Facundo Piguillem & Adriana Grasso, 2017. "Rising Capital Shares, Risk Taking and The Secular Stagnation," 2017 Meeting Papers 1513, Society for Economic Dynamics.
    22. Holden, Tom D., 2019. "Existence and uniqueness of solutions to dynamic models with occasionally binding constraints," EconStor Preprints 144570, ZBW - Leibniz Information Centre for Economics, revised 2019.
    23. Laurence Ball & Sandeep Mazumder, 2019. "A Phillips Curve with Anchored Expectations and Short‐Term Unemployment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(1), pages 111-137, February.
    24. Schmidt, Sebastian, 2016. "Lack of confidence, the zero lower bound, and the virtue of fiscal rules," Journal of Economic Dynamics and Control, Elsevier, vol. 70(C), pages 36-53.
    25. Albinowski, Maciej & Ciżkowicz, Piotr & Rzońca, Andrzej, 2013. "Distrust in the ECB – product of failed crisis prevention or of inappropriate cure?," MPRA Paper 48242, University Library of Munich, Germany.
    26. Ziegenbein, Alexander, 2024. "When are tax multipliers large?," Journal of Economic Dynamics and Control, Elsevier, vol. 158(C).
    27. Jordan Roulleau-Pasdeloup, 2016. "The Government Spending Multiplier in a Deep Recession," Cahiers de Recherches Economiques du Département d'économie 16.22, Université de Lausanne, Faculté des HEC, Département d’économie.
    28. Zhen Huo & Jose-Victor Rios-Rull, 2020. "Demand Induced Fluctuations," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 37, pages 99-117, August.
    29. Vadym Lepetyuk & Lilia Maliar & Serguei Maliar, 2017. "Should Central Banks Worry About Nonlinearities of their Large-Scale Macroeconomic Models?," Staff Working Papers 17-21, Bank of Canada.
    30. Holden, Tom D., 2016. "Existence, uniqueness and computation of solutions to dynamic models with occasionally binding constraints," EconStor Preprints 127430, ZBW - Leibniz Information Centre for Economics.
    31. Albertini, Julien & Poirier, Arthur, 2014. "Unemployment benefits extensions at the zero lower bound on nominal interest rate," SFB 649 Discussion Papers 2014-019, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    32. Huang, Xun & Zhang, Chengzhao, 2024. "What explains the recovery speed of financial markets from banking crises?," Research in International Business and Finance, Elsevier, vol. 70(PA).
    33. S. Boragan Aruoba & Frank Schorfheide, 2013. "Macroeconomic dynamics near the ZLB: a tale of two equilibria," Working Papers 13-29, Federal Reserve Bank of Philadelphia.
    34. Petra Cisková & Emília Zimková & Colin Lawson, 2021. "Visegrad trust in the European Central Bank: common and country specific determinants 2005–2018," Bank i Kredyt, Narodowy Bank Polski, vol. 52(6), pages 495-516.
    35. Jin, Yuying & Luo, Mingjin & Wan, Chao, 2018. "Financial constraints, macro-financing environment and post-crisis recovery of firms," International Review of Economics & Finance, Elsevier, vol. 55(C), pages 54-67.
    36. Mathieu Boullot, 2017. "Secular Stagnation, Liquidity Trap and Rational Asset Price Bubbles," Working Papers halshs-01295012, HAL.
    37. Lasitha R.C. Pathberiya, 2018. "Jobless Recovery, Liquidity Trap, Tight Monetary Policy and the Cost Channel," Discussion Papers Series 591, School of Economics, University of Queensland, Australia.
    38. Carin van der Cruijsen & Anna Samarina, 2021. "Trust in the ECB in turbulent times," Working Papers 722, DNB.
    39. Zhen Huo & José-Víctor Ríos-Rull, 2013. "Engineering a paradox of thrift recession," FRB Atlanta CQER Working Paper 2013-03, Federal Reserve Bank of Atlanta.
    40. Fernando M. Duarte & Anna Zabai, 2015. "An interest rate rule to uniquely implement the optimal equilibrium in a liquidity trap," Staff Reports 745, Federal Reserve Bank of New York.
    41. Michael Wolgast, 2016. "Das gegenwärtige Niedrigzinsumfeld aus Sicht der Sparkassen," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 85(1), pages 11-29.
    42. Françoise Delmez, 2019. "Jobless recoveries after financial crises (and the key role of the extensive margin of employment)," LIDAM Discussion Papers IRES 2019015, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).

  21. Stephanie Schmitt-Grohé & Martín Uribe, 2010. "Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity," NBER Working Papers 16071, National Bureau of Economic Research, Inc.

    Cited by:

    1. Alexander Falter & Dennis Wesselbaum, 2018. "Correlated shocks in estimated DSGE models," Economics Bulletin, AccessEcon, vol. 38(4), pages 2026-2036.
    2. Sveen, Tommy, 2014. "Capital accumulation, sectoral heterogeneity and the Taylor principle," Journal of Economic Dynamics and Control, Elsevier, vol. 44(C), pages 20-28.
    3. Ivashchenko, S., 2020. "Long-term growth sources for sectors of Russian economy," Journal of the New Economic Association, New Economic Association, vol. 48(4), pages 86-112.
    4. Joel Wagner, 2017. "Anticipated Technology Shocks: A Re-Evaluation Using Cointegrated Technologies," Staff Working Papers 17-11, Bank of Canada.
    5. Jonathan Benchimol & Sergey Ivashchenko, 2020. "Switching Volatility in a Nonlinear Open Economy," CFDS Discussion Paper Series 2020/8, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    6. Boileau, Martin & Normandin, Michel, 2017. "The price of imported capital and consumption fluctuations in emerging economies," Journal of International Economics, Elsevier, vol. 108(C), pages 67-81.
    7. Sergey Ivashchenko, 2022. "Dynamic Stochastic General Equilibrium Model with Multiple Trends and Structural Breaks," Russian Journal of Money and Finance, Bank of Russia, vol. 81(1), pages 46-72, March.
    8. Francesco Zanetti & Christoph Görtz & John D. Tsoukalas, 2016. "News Shocks under Financial Frictions," Economics Series Working Papers 813, University of Oxford, Department of Economics.
    9. Saidul Islam, 2024. "Investment-specific technology shocks and business cycle: evidence from a sign restriction approach," Indian Economic Review, Springer, vol. 59(1), pages 249-283, June.
    10. Votinov, A., 2022. "The effects of additional non-stationary processes on the properties of DSGE-models," Journal of the New Economic Association, New Economic Association, vol. 55(3), pages 28-43.
    11. Stephanie Schmitt‐Grohé & Martín Uribe, 2012. "What's News in Business Cycles," Econometrica, Econometric Society, vol. 80(6), pages 2733-2764, November.
    12. Takeuchi, Fumihide, 2011. "The role of production fragmentation in international business cycle synchronization in East Asia," Journal of Asian Economics, Elsevier, vol. 22(6), pages 441-459.
    13. Matthias Gubler & Matthias S. Hertweck, 2011. "Commodity Price Shocks and the Business Cycle: Structural Evidence for the U.S," Working Paper Series of the Department of Economics, University of Konstanz 2011-03, Department of Economics, University of Konstanz.
    14. Vasco Cúrdia & Ricardo Reis, 2010. "Correlated Disturbances and U.S. Business Cycles," NBER Working Papers 15774, National Bureau of Economic Research, Inc.
    15. Fatma Erdem & Erdal Özmen, 2015. "Exchange Rate Regimes and Business Cycles: An Empirical Investigation," Open Economies Review, Springer, vol. 26(5), pages 1041-1058, November.
    16. Alejandro Justiniano & Claudio Michelacci, 2012. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the United States and Europe," NBER International Seminar on Macroeconomics, University of Chicago Press, vol. 8(1), pages 169-235.
    17. Ryan Chahrour & Stephanie Schmitt-Grohé & Martín Uribe, 2012. "A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier," American Economic Journal: Economic Policy, American Economic Association, vol. 4(2), pages 28-45, May.
    18. Andrew C. Chang & Phillip Li, 2015. "Is Economics Research Replicable? Sixty Published Papers from Thirteen Journals Say \"Usually Not\"," Finance and Economics Discussion Series 2015-83, Board of Governors of the Federal Reserve System (U.S.).
    19. Anna Kormilitsina & Denis Nekipelov, 2015. "Consistent Variance of the Laplace Type Estimators: Application to DSGE Models," Departmental Working Papers 1510, Southern Methodist University, Department of Economics.
    20. Marc-Andre Letendre & Joel Wagner, 2015. "Agnecy Costs, Risk Shocks and International Cycles," Department of Economics Working Papers 2015-09, McMaster University.
    21. Francesca Marino, 2016. "The Italian productivity slowdown in a Real Business Cycle perspective," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 63(2), pages 171-193, June.
    22. Paulo Júlio & José R. Maria, 2021. "Lessons from a finitely-lived agents structural model," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    23. Christoph Görtz & Christopher Gunn & Thomas A. Lubik, 2024. "The Changing Nature of Technology Shocks," CESifo Working Paper Series 11385, CESifo.
    24. João Valle e Azevedo & Valerio Ercolani, 2012. "The Effects of Public Spending Externalities," Working Papers w201210, Banco de Portugal, Economics and Research Department.
    25. Joel Wagner, 2015. "The Endogenous Relative Price of Investment," Staff Working Papers 15-30, Bank of Canada.
    26. Thomet, Jacqueline & Wegmueller, Philipp, 2021. "Technology Shocks And Hours Worked: A Cross-Country Analysis," Macroeconomic Dynamics, Cambridge University Press, vol. 25(4), pages 1020-1052, June.
    27. Andrei Polbin & Sergey Drobyshevsky, 2014. "Developing a Dynamic Stochastic Model of General Equilibrium for the Russian Economy," Research Paper Series, Gaidar Institute for Economic Policy, issue 166P, pages 156-156.
    28. Marcelo Arbex & Sidney Caetano & Michel Souza, 2017. "Asymmetric effects of shocks on TFP," Working Papers 1702, University of Windsor, Department of Economics.
    29. Chen, Kaiji & Wemy, Edouard, 2015. "Investment-specific technological changes: The source of long-run TFP fluctuations," European Economic Review, Elsevier, vol. 80(C), pages 230-252.
    30. Marina Azzimonti-Renzo & Matthew Talbert, 2011. "Partisan cycles and the consumption volatility puzzle," Working Papers 11-21, Federal Reserve Bank of Philadelphia.
    31. Agnirup Sarkar, 2020. "Market capitalization and growth with nominal and real rigidities: the case of emerging economies," Indian Economic Review, Springer, vol. 55(2), pages 165-198, December.
    32. Görtz, Christoph & Tsoukalas, John D., 2018. "Sectoral TFP news shocks," Economics Letters, Elsevier, vol. 168(C), pages 31-36.
    33. Michele Cavallo & Anthony Landry, 2018. "Capital-Goods Imports and US Growth," Staff Working Papers 18-1, Bank of Canada.
    34. Pau Rabanal & Vicente Tuesta, 2013. "Nontradable Goods and the Real Exchange Rate," Open Economies Review, Springer, vol. 24(3), pages 495-535, July.
    35. Aydan Dogan, 2019. "Online Appendix to "Investment Specific Technology Shocks and Emerging Market Business Cycle Dynamics"," Online Appendices 18-377, Review of Economic Dynamics.
    36. Moura, Alban, 2020. "Total factor productivity and the measurement of neutral technology," MPRA Paper 99357, University Library of Munich, Germany.
    37. Luca Guerrieri & Dale W. Henderson & Jinill Kim, 2016. "Interpreting Shocks to the Relative Price of Investment with a Two-Sector Model," Finance and Economics Discussion Series 2016-7, Board of Governors of the Federal Reserve System (U.S.).
    38. Alejandro Justiniano & Claudio Michelacci, 2011. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies in the US and Europe," NBER Working Papers 17429, National Bureau of Economic Research, Inc.
    39. Andrew C. Chang & Phillip Li, 2018. "Measurement Error In Macroeconomic Data And Economics Research: Data Revisions, Gross Domestic Product, And Gross Domestic Income," Economic Inquiry, Western Economic Association International, vol. 56(3), pages 1846-1869, July.
    40. Benati, Luca, 2014. "Do TFP and the relative price of investment share a common I(1) component?," Journal of Economic Dynamics and Control, Elsevier, vol. 45(C), pages 239-261.
    41. Polbin, Andrey & Sinelnikov-Murylev, Sergey, 2024. "Developing and impulse response matching estimation of the DSGE model for the Russian economy," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 73, pages 5-34.
    42. Sekyu Choi & Jose-Victor Rios-Rull, 2020. "Labor Share and Productivity Dynamics," PIER Working Paper Archive 20-031, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    43. Barsky, Robert B. & Sims, Eric R., 2011. "News shocks and business cycles," Journal of Monetary Economics, Elsevier, vol. 58(3), pages 273-289.
    44. Moura, Alban, 2021. "Are neutral and investment-specific technology shocks correlated?," European Economic Review, Elsevier, vol. 139(C).
    45. Haykaz Igityan, 2019. "Asymmetric Effects of Monetary Policy in Different Phases of Armenia's Business Cycle," Working Papers 11, Central Bank of Armenia.
    46. Ko, Jun-Hyung & Miyazawa, Kensuke & Vu, Tuan Khai, 2012. "News shocks and Japanese macroeconomic fluctuations," Japan and the World Economy, Elsevier, vol. 24(4), pages 292-304.
    47. Aydan Dogan, 2017. "Investment Specific Technology Shocks and Emerging Market Business Cycle Dynamics," UB School of Economics Working Papers 2017/359, University of Barcelona School of Economics.
    48. Markus Bruckner & Evi Pappa, 2011. "For an Olive Wreath? Olympic Games and Anticipation Effects in Macroeconomics," School of Economics and Public Policy Working Papers 2011-18, University of Adelaide, School of Economics and Public Policy.
    49. Haykaz Igityan, 2021. "Asymmetric Effects of Monetary Policy on the Armenian Economy," Russian Journal of Money and Finance, Bank of Russia, vol. 80(1), pages 46-103, March.
    50. Xian-Liang Tian, 2016. "Participation in export and Chinese firms’ capacity utilization," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 25(5), pages 757-784, August.
    51. Sergey M. Ivashchenko, 2019. "DSGE Models: Problem of Trends," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 81-95, April.
    52. Seunghoon Na & Hyunseung Oh, 2020. "Computerizing Households and the Role of Investment-Specific Productivity in Business Cycles," International Finance Discussion Papers 1292, Board of Governors of the Federal Reserve System (U.S.).
    53. Haykaz Igityan, 2021. "Asymmetric Effects of Monetary Policy on the Armenian Economy," Working Papers 18, Central Bank of Armenia, revised Mar 2021.

  22. Uribe, Martín & Schmitt-Grohé, Stephanie & Chahrour, Ryan, 2010. "A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier," CEPR Discussion Papers 7930, C.E.P.R. Discussion Papers.

    Cited by:

    1. Sims, Eric & Wolff, Jonathan, 2018. "The state-dependent effects of tax shocks," European Economic Review, Elsevier, vol. 107(C), pages 57-85.
    2. Roberto perotti, 2011. "Expectations and Fiscal Policy: An Empirical Investigation," Working Papers 429, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    3. Jean-Louis Combes & Alexandru Minea & Lavinia Mustea & Thierry Yogo, 2016. "Output effects of fiscal stimulus in Central and Eastern European countries," Post-Communist Economies, Taylor & Francis Journals, vol. 28(1), pages 108-127, January.
    4. Giovanni Angelini & Giovanni Caggiano & Efrem Castelnuovo & Luca Fanelli, 2023. "Are Fiscal Multipliers Estimated with Proxy‐SVARs Robust?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 85(1), pages 95-122, February.
    5. Mertens, Karel & Ravn, Morten O., 2014. "A reconciliation of SVAR and narrative estimates of tax multipliers," Journal of Monetary Economics, Elsevier, vol. 68(S), pages 1-19.
    6. Stéphane Auray & Aurélien Eyquem, 2015. "War, Taxes and Trade," Post-Print halshs-01232224, HAL.
    7. Jones, Paul M. & Olson, Eric & Wohar, Mark E., 2015. "Asymmetric tax multipliers," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 38-48.
    8. Perotti, Roberto & Monacelli, Tommas & Trigari, Antonella, 2011. "Taxes and the Labor Market," CEPR Discussion Papers 8657, C.E.P.R. Discussion Papers.
    9. Grudter, Vanessa & Aragon, Edilean Kleber, 2017. "Multiplicador dos gastos do governo em períodos de expansão e recessão: evidências empíricas para o Brasil," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 71(3), September.
    10. Carlo Favero & Francesco Giavazzi, 2010. "Measuring Tax Multipliers: The Narrative Method in Fiscal VARs," NBER Chapters, in: Fiscal Policy (Trans-Atlantic Public Economics Seminar, TAPES), pages 69-94, National Bureau of Economic Research, Inc.
    11. Kurt Kratena & Gerhard Streicher, 2017. "Fiscal Policy Multipliers and Spillovers in a Multi-Regional Macroeconomic Input-Output Model," WIFO Working Papers 540, WIFO.
    12. Gunter, Samara & Riera-Crichton, Daniel & Vegh, Carlos A. & Vuletin, Guillermo, 2021. "Non-linear effects of tax changes on output: The role of the initial level of taxation," Journal of International Economics, Elsevier, vol. 131(C).
    13. Masten, Igor & Grdović Gnip, Ana, 2016. "Stress testing the EU fiscal framework," Journal of Financial Stability, Elsevier, vol. 26(C), pages 276-293.
    14. Dennis Bonam & Paul Konietschke, 2020. "Tax multipliers across the business cycle," Working Papers 699, DNB.
    15. Roberto Perotti, 2010. "The Effects of Tax Shocks on Output: Not So Large, but Not Small Either," NBER Chapters, in: Fiscal Policy (Trans-Atlantic Public Economics Seminar, TAPES), pages 214-237, National Bureau of Economic Research, Inc.
    16. Dario Caldara & Christophe Kamps, 2017. "The Analytics of SVARs: A Unified Framework to Measure Fiscal Multipliers," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 84(3), pages 1015-1040.
    17. Michael A. Clemens & Timothy N. Ogden, 2020. "Migration and household finances: How a different framing can improve thinking about migration," Development Policy Review, Overseas Development Institute, vol. 38(1), pages 3-27, January.
    18. Choi, Sangyup & Shin, Junhyeok, 2023. "Household indebtedness and the macroeconomic effects of tax changes," Journal of Economic Behavior & Organization, Elsevier, vol. 209(C), pages 22-52.
    19. Charles J. Whalen & Felix Reichling, 2015. "The Fiscal Multiplier And Economic Policy Analysis In The United States," Contemporary Economic Policy, Western Economic Association International, vol. 33(4), pages 735-746, October.
    20. Perotti, Roberto, 2011. "The Effects of Tax Shocks on Output: Not So Large, But Not Small Either," CEPR Discussion Papers 8252, C.E.P.R. Discussion Papers.
    21. Fabrício Pitombo Leite, 2015. "Taking Godley's Ratios Seriously," Metroeconomica, Wiley Blackwell, vol. 66(3), pages 508-533, July.
    22. Gabriela Castro & José R. Maria & Paulo Júlio, 2013. "Fiscal multipliers in a small euro area economy: How big can they get in crisis times?," Working Papers w201311, Banco de Portugal, Economics and Research Department.
    23. Michael Clemens and Timothy N. Ogden, 2014. "Migration as a Strategy for Household Finance: A Research Agenda on Remittances, Payments, and Development- Working Paper 354," Working Papers 354, Center for Global Development.
    24. Anna Kormilitsina, 2016. "Is Government Spending Predetermined? A Test of Identification for Fiscal Policy Shocks," Departmental Working Papers 1607, Southern Methodist University, Department of Economics.
    25. Tannous Kass-Hanna & Julien Reynaud & Chris Walker, 2023. "Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia," IMF Working Papers 2023/240, International Monetary Fund.
    26. J. Stephen Ferris, 2010. "Fiscal Policy from a Public Choice Perspective," Carleton Economic Papers 10-10, Carleton University, Department of Economics.
    27. Moura, Alban, 2015. "The effects of government spending endogeneity on estimated multipliers in the US," TSE Working Papers 15-610, Toulouse School of Economics (TSE).
    28. Johannes Hermanus Kemp, 2020. "Empirical estimates of fiscal multipliers for South Africa," WIDER Working Paper Series wp-2020-91, World Institute for Development Economic Research (UNU-WIDER).
    29. Rabia Rafique & Asad Nisar & Syed Sadaqat Ali Shah, 2024. "Testing the effects of fiscal policy shocks on output growth in recession and expansion: empirical evidence from developing countries," Economic Change and Restructuring, Springer, vol. 57(3), pages 1-26, June.
    30. Nizam, Ahmed Mehedi, 2020. "Some Amendments to the Algebraic Representation and Empirical Estimation of the Fiscal Multipliers," MPRA Paper 104346, University Library of Munich, Germany.
    31. François Geerolf & Thomas Grjebine, 2018. "Property Tax Shocks and Macroeconomics," Working Papers 2018-03, CEPII research center.

  23. Stephanie Schmitt-Grohé & Martín Uribe, 2010. "Liquidity Traps: An Interest-Rate-Based Exit Strategy," NBER Working Papers 16514, National Bureau of Economic Research, Inc.

    Cited by:

    1. Lucio Gobbi & Ronny Mazzocchi & Roberto Tamborini, 2022. "Monetary policy, rational confidence, and Neo‐Fisherian depressions," Metroeconomica, Wiley Blackwell, vol. 73(4), pages 1179-1199, November.
    2. Schmidt, Sebastian & Nakata, Taisuke, 2020. "Expectations-driven liquidity traps: Implications for monetary and fiscal policy," CEPR Discussion Papers 15422, C.E.P.R. Discussion Papers.
    3. Nasir, Muhammad Ali, 2021. "Zero Lower Bound and negative interest rates: Choices for monetary policy in the UK," Journal of Policy Modeling, Elsevier, vol. 43(1), pages 200-229.
    4. Cizkowicz, Piotr & Rzonca, Andrzej, 2011. "Interest rates close to zero, post-crisis restructuring and natural interest rate," MPRA Paper 36989, University Library of Munich, Germany.
    5. Siddhartha Chattopadhyay, 2021. "The Neo-Fisherianism to Escape Zero Lower Bound," International Symposia in Economic Theory and Econometrics, in: Environmental, Social, and Governance Perspectives on Economic Development in Asia, volume 29, pages 1-19, Emerald Group Publishing Limited.
    6. Chattopadhyay, Siddhartha & Daniel, Betty C., 2014. "The Inflation Target at the Zero Lower Bound," MPRA Paper 66096, University Library of Munich, Germany.
    7. Piotr Ciżkowicz & Andrzej Rzońca, 2015. "Inflation Targeting and its Discontents: The Case of Poland," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 65(supplemen), pages 107-122, December.
    8. Elizaveta Lukmanova & Katrin Rabitsch, 2018. "New VAR evidence on monetary transmission channels: temporary interest rate versus inflation target shocks," Working Papers of Department of Economics, Leuven 630040, KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven.
    9. Piotr Cizkowicz & Andrzej Rzonca & Andrzej Toroj, 2015. "In search for appropriate lower bound.Zero lower bound vs. positive lower bound under discretion and commitment," NBP Working Papers 215, Narodowy Bank Polski.
    10. John H. Cochrane, 2017. "Michelson-Morley, Fisher, and Occam: The Radical Implications of Stable Quiet Inflation at the Zero Bound," NBER Chapters, in: NBER Macroeconomics Annual 2017, volume 32, pages 113-226, National Bureau of Economic Research, Inc.
    11. Siddartha Chattopadhyay & Betty C. Daniel, 2018. "Taylor-Rule Exit Policies for the Zero Lower Bound," International Journal of Central Banking, International Journal of Central Banking, vol. 14(5), pages 1-53, December.
    12. Mariana Garcia-Schmidt & Michael Woodford, 2015. "Are Low Interest Rates Deflationary? A Paradox of Perfect-Foresight Analysis," Working Papers Series 18, Institute for New Economic Thinking.
    13. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    14. Robert Amano & Thomas J. Carter & Rhys R. Mendes, 2016. "A Primer on Neo-Fisherian Economics," Staff Analytical Notes 16-14, Bank of Canada.
    15. Christiane Baumeister & Luca Benati, 2012. "Unconventional Monetary Policy and the Great Recession: Estimating the Macroeconomic Effects of a Spread Compression at the Zero Lower Bound," Staff Working Papers 12-21, Bank of Canada.
    16. López-Salido, J David & Gust, Christopher & Smith, Matthew E, 2012. "The Empirical Implications of the Interest-Rate Lower Bound," CEPR Discussion Papers 9214, C.E.P.R. Discussion Papers.
    17. Christopher Martin & Costas Milas, 2011. "Financial Crises and Monetary Policy: Evidence from the UK," Working Paper series 14_11, Rimini Centre for Economic Analysis.
    18. Schmidt, Sebastian, 2016. "Lack of confidence, the zero lower bound, and the virtue of fiscal rules," Journal of Economic Dynamics and Control, Elsevier, vol. 70(C), pages 36-53.
    19. Richard G. Anderson, 2013. "Japan as a role model?," Economic Synopses, Federal Reserve Bank of St. Louis.
    20. Martín Uribe, 2018. "The Neo-Fisher Effect: Econometric Evidence from Empirical and Optimizing Models," NBER Working Papers 25089, National Bureau of Economic Research, Inc.
    21. Marco Airaudo & Ina Hajdini, 2021. "Consistent Expectations Equilibria In Markov Regime Switching Models And Inflation Dynamics," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 62(4), pages 1401-1430, November.
    22. Marco Airaudo & Ina Hajdini, 2021. "Wealth Effects, Price Markups, and the Neo-Fisherian Hypothesis," Working Papers 21-27, Federal Reserve Bank of Cleveland.
    23. Rodríguez Arosemena, Nicolás, 2018. "The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law," MPRA Paper 90560, University Library of Munich, Germany.
    24. Fernando M. Duarte, 2016. "How to escape a liquidity trap with interest rate rules," Staff Reports 776, Federal Reserve Bank of New York.
    25. Airaudo, Marco & Hajdini, Ina, 2023. "Wealth effects, price markups, and the neo-Fisherian hypothesis," European Economic Review, Elsevier, vol. 157(C).
    26. Christopher Gust & Edward Herbst & David López-Salido & Matthew E. Smith, 2017. "The Empirical Implications of the Interest-Rate Lower Bound," American Economic Review, American Economic Association, vol. 107(7), pages 1971-2006, July.
    27. Fumio Hayashi, 2019. "Peril of the Inflation Exit Condition," The Japanese Economic Review, Springer, vol. 70(1), pages 4-27, March.
    28. Goyal, Ashima & Parab, Prashant, 2021. "What influences aggregate inflation expectations of households in India?," Journal of Asian Economics, Elsevier, vol. 72(C).
    29. Chadha, Jagjit S., 2023. "Mr Putin and the chronicle of a normalisation foretold," LSE Research Online Documents on Economics 120381, London School of Economics and Political Science, LSE Library.
    30. Martín Uribe, 2017. "The Neo-Fisher Effect in the United States and Japan," NBER Working Papers 23977, National Bureau of Economic Research, Inc.
    31. Florin O. Bilbiie, 2022. "Neo-Fisherian Policies and Liquidity Traps," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(4), pages 378-403, October.

  24. Uribe, Martín & Schmitt-Grohé, Stephanie, 2010. "The Optimal Rate of Inflation," CEPR Discussion Papers 7864, C.E.P.R. Discussion Papers.

    Cited by:

    1. Guido Ascari & Anna Florio, 2012. "Transparency, Expectations Anchoring and the Inflation Target," DEM Working Papers Series 022, University of Pavia, Department of Economics and Management.
    2. Ramon Marimon & Juan Pablo Nicolini & Pedro Teles, "undated". "Money is an Experience Good: Competition and Trust in the Private Provision of Money," Working Papers 563, Barcelona School of Economics.
    3. Weber, Henning, 2011. "Optimal inflation and firms' productivity dynamics," Kiel Working Papers 1685, Kiel Institute for the World Economy (IfW Kiel).
    4. Markus K. Brunnermeier & Yuliy Sannikov, 2016. "On the Optimal Inflation Rate," NBER Working Papers 22133, National Bureau of Economic Research, Inc.
    5. Adam, Klaus & Weber, Henning, 2020. "Estimating the Optimal Inflation Target from Trends in Relative Prices," CEPR Discussion Papers 14335, C.E.P.R. Discussion Papers.
    6. Philippe Andrade & Gal Jordi & Le Bihan Hervé & Matheron Julien, 2021. "Should the ECB Adjust its Strategy in the Face of a Lower r*?," Working papers 811, Banque de France.
    7. Martin Seneca, 2020. "Risk Shocks and Monetary Policy in the New Normal," International Journal of Central Banking, International Journal of Central Banking, vol. 16(6), pages 185-232, December.
    8. Marc Carreras & Olivier Coibion & Yuriy Gorodnichenko & Johannes Wieland, 2016. "Infrequent but Long-Lived Zero-Bound Episodes and the Optimal Rate of Inflation," Working Papers id:11216, eSocialSciences.
    9. Dudley Cooke, 2015. "Online Appendix to "Optimal Monetary Policy with Endogenous Export Participation"," Online Appendices 12-204, Review of Economic Dynamics.
    10. Jason Choi & Andrew T. Foerster, 2016. "Optimal monetary policy regime switches," Research Working Paper RWP 16-7, Federal Reserve Bank of Kansas City.
    11. Dudley Cooke, 2019. "Consumer Search, Incomplete Exchange Rate Pass‐Through, and Optimal Interest Rate Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 455-484, March.
    12. Antoine Lepetit, 2022. "The Optimal Inflation Rate with Discount Factor Heterogeneity," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(7), pages 1971-1996, October.
    13. Proaño Acosta, Christian & Lojak, Benjamin, 2020. "Monetary policy with a state-dependent inflation target in a behavioral two-country monetary union model," BERG Working Paper Series 161, Bamberg University, Bamberg Economic Research Group.
    14. Takushi Kurozumi & Willem Van Zandweghe, 2021. "Macroeconomic Changes with Declining Trend Inflation: Complementarity with the Superstar Firm Hypothesis," Bank of Japan Working Paper Series 21-E-13, Bank of Japan.
    15. Carl E. Walsh, 2011. "The Future of Inflation Targeting," The Economic Record, The Economic Society of Australia, vol. 87(s1), pages 23-36, September.
    16. P. Andrade & J. Gal & H. Le Bihan & J. Matheron, 2018. "The Optimal Inflation Target and the Natural Rate of Interest," Working papers 670, Banque de France.
    17. Adam, Klaus & Gautier, Erwan & Santoro, Sergio & Weber, Henning, 2021. "The case for a positive euro area inflation target: Evidence from France, Germany and Italy," Discussion Papers 26/2021, Deutsche Bundesbank.
    18. Darracq Pariès, Matthieu & Papadopoulou, Niki, 2019. "On the credit and exchange rate channels of central bank asset purchases in a monetary union," Working Paper Series 2259, European Central Bank.
    19. Zaretski, Aliaksandr, 2021. "Financial constraints, risk sharing, and optimal monetary policy," MPRA Paper 110757, University Library of Munich, Germany.
    20. Nasir, Muhammad Ali, 2021. "Zero Lower Bound and negative interest rates: Choices for monetary policy in the UK," Journal of Policy Modeling, Elsevier, vol. 43(1), pages 200-229.
    21. Finocchiaro, Daria & Lombardo, Giovanni & Mendicino, Caterina & Weil, Philippe, 2018. "Optimal inflation with corporate taxation and financial constraints," Journal of Monetary Economics, Elsevier, vol. 95(C), pages 18-31.
    22. Franks, Max & Lessmann, Kai, 2023. "Tax competition with asymmetric endowments in fossil resources," Resources Policy, Elsevier, vol. 83(C).
    23. Lukas Altermatt & Christian Wipf, 2024. "Liquidity, the Mundell–Tobin Effect, and the Friedman Rule," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(5), pages 1235-1259, August.
    24. Ghironi, Fabio & Cacciatore, Matteo, 2020. "Trade, Unemployment, and Monetary Policy," CEPR Discussion Papers 14952, C.E.P.R. Discussion Papers.
    25. Mineyama, Tomohide, 2022. "Revisiting the optimal inflation rate with downward nominal wage rigidity: The role of heterogeneity," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    26. Woodford, Michael, 2010. "Optimal Monetary Stabilization Policy," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 14, pages 723-828, Elsevier.
    27. Rhee, Hyuk Jae & Turdaliev, Nurlan, 2013. "Central bank transparency: Does it matter?," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 183-197.
    28. Lein, Sarah & Braun, Rahel, 2021. "Sources of Bias in Inflation Rates and Implications for Inflation Dynamics," CEPR Discussion Papers 15663, C.E.P.R. Discussion Papers.
    29. Daisuke Miyakawa & Koki Oikawa & Kozo Ueda, 2020. "Reallocation effects of monetary policy," CAMA Working Papers 2020-59, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    30. Oikawa, Koki & Ueda, Kozo, 2018. "The optimal inflation rate under Schumpeterian growth," Journal of Monetary Economics, Elsevier, vol. 100(C), pages 114-125.
    31. Jung, Kuk Mo, 2016. "Uncertainty-Induced Dynamic Inefficiency and the Optimal Inflation Rate," MPRA Paper 69715, University Library of Munich, Germany.
    32. Lorenzo Forni & Mehrab Kiarsi, 2023. "Optimal Climate and Monetary-Fiscal Policy in a Climate-DSGE Framework," "Marco Fanno" Working Papers 0299, Dipartimento di Scienze Economiche "Marco Fanno".
    33. Wojtek PaczosBy, 2020. "Optimal inflation, monetary integration, and asymmetric sticky prices," Oxford Economic Papers, Oxford University Press, vol. 72(3), pages 710-730.
    34. Francesco Furlanetto & Paolo Gelain & Marzie Taheri Sanjani, 2014. "Output Gap in Presence of Financial Frictions and Monetary Policy Trade-offs," IMF Working Papers 2014/128, International Monetary Fund.
    35. Andrew Binning & Junior Maih, 2017. "Modelling Occasionally Binding Constraints Using Regime-Switching," Working Papers No 9/2017, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    36. Lorenzo Carbonari & Fabrizio Mattesini & Robert J. Waldmann, 2023. "Inflation and Welfare in a Competitive Search Equilibrium with Asymmetric Information," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 717-746, June.
    37. Cardani, Roberta & Menna, Lorenzo & Tirelli, Patrizio, 2020. "The Optimal Policy Mix To Achieve Public Debt Consolidation," Macroeconomic Dynamics, Cambridge University Press, vol. 24(1), pages 113-129, January.
    38. Mr. Etienne B Yehoue, 2012. "On Price Stability and Welfare," IMF Working Papers 2012/189, International Monetary Fund.
    39. Tao Peng, 2012. "A Note on the implementation of the Pareto efficient allocation in the Lagos-Wright model," Economics Bulletin, AccessEcon, vol. 32(1), pages 27-36.
    40. Gary S. Anderson & Jinill Kim & Tack Yun, 2010. "Using a projection method to analyze inflation bias in a micro-founded model," Finance and Economics Discussion Series 2010-18, Board of Governors of the Federal Reserve System (U.S.).
    41. Cecion, Martina & Coenen, Günter & Gerke, Rafael & Le Bihan, Hervé & Motto, Roberto & Aguilar, Pablo & Ajevskis, Viktors & Giesen, Sebastian & Albertazzi, Ugo & Gilbert, Niels & Al-Haschimi, Alexander, 2021. "The ECB’s price stability framework: past experience, and current and future challenges," Occasional Paper Series 269, European Central Bank.
    42. Abo-Zaid, Salem, 2015. "Optimal long-run inflation with occasionally binding financial constraints," European Economic Review, Elsevier, vol. 75(C), pages 18-42.
    43. Ikeda, Daisuke, 2015. "Optimal inflation rates with the trending relative price of investment," Journal of Economic Dynamics and Control, Elsevier, vol. 56(C), pages 20-33.
    44. Turdaliev, Nurlan, 2019. "Monetary policy, heterogeneous population and inflation," Research in Economics, Elsevier, vol. 73(4), pages 277-292.
    45. Evers, Michael P., 2013. "Strategic monetary policy in interdependent economies: Gains from coordination reconsidered," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 360-376.
    46. Andrade, Philippe & Galí, Jordi & Le Bihan, Hervé & Matheron, Julien, 2021. "Should the ECB adjust its strategy in the face of a lower r★?," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
    47. Bennett T. McCallum, 2011. "Should central banks raise their inflation targets? Some relevant issues," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 97(2Q), pages 111-131.
    48. Salih Fendoglu, 2011. "Optimal Monetary Policy Rules, Financial Amplification, and Uncertain Business Cycles," Working Papers 1126, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    49. Anthony M. Diercks, 2015. "The Equity Premium, Long-Run Risk, & Optimal Monetary Policy," Finance and Economics Discussion Series 2015-87, Board of Governors of the Federal Reserve System (U.S.).
    50. Abbritti, Mirko & Consolo, Agostino & Weber, Sebastian, 2021. "Endogenous growth, downward wage rigidity and optimal inflation," Working Paper Series 2635, European Central Bank.
    51. Mr. Otmar Issing, 2011. "Lessons for Monetary Policy: What Should the Consensus Be?," IMF Working Papers 2011/097, International Monetary Fund.
    52. Niemann, Stefan & Pichler, Paul & Sorger, Gerhard, 2013. "Public debt, discretionary policy, and inflation persistence," Journal of Economic Dynamics and Control, Elsevier, vol. 37(6), pages 1097-1109.
    53. Michael T. Kiley & John M. Roberts, 2017. "Monetary Policy in a Low Interest Rate World," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 317-396.
    54. Nurlan Turdaliev, 2019. "Heterogeneity and monetary policy," Journal of Economics, Springer, vol. 128(2), pages 119-145, October.
    55. Schabert, Andreas, 2015. "Optimal central bank lending," Journal of Economic Theory, Elsevier, vol. 157(C), pages 485-516.
    56. Meshcheryakov, A. & Sukhomlinov, A., 2024. "Considerations regarding inflation target levels," Journal of the New Economic Association, New Economic Association, vol. 62(1), pages 246-254.
    57. Агамбаева С.Б. // Agambayeva S.B. & Джусангалиева К.Е. // Jussangaliyeva K.E. & Акылбеков А.А. // Akylbekov A.A. & Ханетова А.Б. // Khanetova A.B., 2022. "Таргет по инфляции: формулировка цели и последствия ее смены. Обзор международного опыта. // Inflation Target: Formulation of the Goal and Implications of its Change. Overview of international experie," Economic Review(National Bank of Kazakhstan), National Bank of Kazakhstan, issue 3/4, pages 4-25.
    58. Ippei Fujiwara & Shunsuke Hori & Yuichiro Waki, 2019. "Generational War on Inflation: Optimal Inflation Rates for the Young and the Old," Globalization Institute Working Papers 372, Federal Reserve Bank of Dallas.
    59. Olivier Coibion & Yuriy Gorodnichenko & Johannes F. Wieland, 2010. "The Optimal Inflation Rate in New Keynesian Models," NBER Working Papers 16093, National Bureau of Economic Research, Inc.
    60. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    61. Consolo, Agostino & Koester, Gerrit & Nickel, Christiane & Porqueddu, Mario & Smets, Frank, 2021. "The need for an inflation buffer in the ECB’s price stability objective – the role of nominal rigidities and inflation differentials," Occasional Paper Series 279, European Central Bank.
    62. Harrison, Richard & Thomas, Ryland, 2019. "Monetary financing with interest-bearing money," Bank of England working papers 785, Bank of England.
    63. Antoine Camous & Dmitry Matveev, 2023. "The Central Bank Strikes Back! Credibility of Monetary Policy under Fiscal Influence," The Economic Journal, Royal Economic Society, vol. 133(649), pages 1-29.
    64. Klaus Adam & Henning Weber, 2019. "Price Trends over the Product Life Cycle and the Optimal Inflation Target," 2019 Meeting Papers 1001, Society for Economic Dynamics.
    65. Martin Uribe & Stephanie Schmitt-Grohe, 2012. "Pegs and Pain," 2012 Meeting Papers 303, Society for Economic Dynamics.
    66. Oliver Pfauti, 2021. "Inflation -- who cares? Monetary Policy in Times of Low Attention," Papers 2105.05297, arXiv.org, revised Oct 2023.
    67. Aruoba, S. Borağan, 2021. "Institutions, tax evasion, and optimal policy," Journal of Monetary Economics, Elsevier, vol. 118(C), pages 212-229.
    68. Ha,Jongrim & Ivanova,Anna & Ohnsorge,Franziska Lieselotte & Unsal Portillo Ocando,Derya Filiz, 2019. "Inflation : Concepts, Evolution, and Correlates," Policy Research Working Paper Series 8738, The World Bank.
    69. Proaño, Christian R. & Lojak, Benjamin, 2020. "Animal spirits, risk premia and monetary policy at the zero lower bound," Journal of Economic Behavior & Organization, Elsevier, vol. 171(C), pages 221-233.
    70. Angelo Melino, 2011. "Moving Monetary Policy Forward: Why Small Steps - and a Lower Inflation Target - Make Sense for the Bank of Canada," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 319, January.
    71. Santoro, Sergio & Viviano, Eliana, 2022. "Optimal trend inflation, misallocation and the pass-through of labour costs to prices," Working Paper Series 2761, European Central Bank.
    72. Bindseil, Ulrich & Domnick, Clemens & Zeuner, Jörg, 2015. "Critique of accommodating central bank policies and the 'expropriation of the saver' - A review," Occasional Paper Series 161, European Central Bank.
    73. Takushi Kurozumi & Willem Van Zandweghe, 2020. "Output-Inflation Trade-offs and the Optimal Inflation Rate," Working Papers 20-20, Federal Reserve Bank of Cleveland.
    74. Ngo, Phuong V., 2014. "Optimal discretionary monetary policy in a micro-founded model with a zero lower bound on nominal interest rate," Journal of Economic Dynamics and Control, Elsevier, vol. 45(C), pages 44-65.
    75. Séverine Menguy, 2016. "Optimal Discretionary Monetary Policy in A Potential Zero Lower Bound Framework," International Journal of Economics and Financial Research, Academic Research Publishing Group, vol. 2(6), pages 104-126, 06-2016.
    76. Otmar Issing, 2011. "Lessons for monetary policy: what should the consensus be?," Globalization Institute Working Papers 81, Federal Reserve Bank of Dallas.
    77. Issing, Otmar, 2011. "Lessons for monetary policy: What should the consensus be?," CFS Working Paper Series 2011/13, Center for Financial Studies (CFS).
    78. Kevin J. Lansing, 2019. "Endogenous Forecast Switching Near the Zero Lower Bound," Working Paper Series 2017-24, Federal Reserve Bank of San Francisco.
    79. Ben Lockwood & Erez Yerushalmi, 2019. "How should payment services be taxed?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 53(1), pages 21-47, June.
    80. Weber, Henning, 2012. "The optimal inflation rate and firm-level productivity growth," Kiel Working Papers 1773, Kiel Institute for the World Economy (IfW Kiel).
    81. Cacciatore, Matteo & Fiori, Giuseppe & Ghironi, Fabio, 2015. "The domestic and international effects of euro area market reforms," Research in Economics, Elsevier, vol. 69(4), pages 555-581.
    82. Weber, Henning, 2015. "Innovation and the Optimal Rate of Inflation," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113087, Verein für Socialpolitik / German Economic Association.
    83. Bernardino Adão & André C. Silva, 2019. "Real transfers and the Friedman rule," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(1), pages 155-177, February.
    84. Mehrab Kiarsi, 2021. "The rise of market power and Ramsey‐optimal policy implications," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 50(1), February.
    85. Toyoichiro Shirota, 2021. "Cost of Sticky Prices under Multiple Stages of Production," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(5), pages 1211-1222, August.
    86. Carlsson, Mikael & Westermark, Andreas, 2016. "Labor market frictions and optimal steady-state inflation," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 67-79.

  25. Stephanie Schmitt-Grohé & Martín Uribe, 2009. "Foreign Demand for Domestic Currency and the Optimal Rate of Inflation," NBER Working Papers 15494, National Bureau of Economic Research, Inc.

    Cited by:

    1. Stephanie Schmitt-Grohe & Martin Uribe, 2010. "The Optimal Rate of Inflation," NBER Working Papers 16054, National Bureau of Economic Research, Inc.
    2. Marc Carreras & Olivier Coibion & Yuriy Gorodnichenko & Johannes Wieland, 2016. "Infrequent but Long-Lived Zero-Bound Episodes and the Optimal Rate of Inflation," Working Papers id:11216, eSocialSciences.
    3. Ferry Syarifuddin & Toni Bakhtiar, 2022. "The Macroeconomic Effects of an Interest-Bearing CBDC: A DSGE Model," Mathematics, MDPI, vol. 10(10), pages 1-33, May.
    4. Maria Socorro Gochoco-Bautista, 2009. "Global Crises and Reform of the International Monetary System," UP School of Economics Discussion Papers 200914, University of the Philippines School of Economics.
    5. Bernardino Adão, 2019. "Why is price stability a key goal of central banks?," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    6. Anthony M. Diercks, 2015. "The Equity Premium, Long-Run Risk, & Optimal Monetary Policy," Finance and Economics Discussion Series 2015-87, Board of Governors of the Federal Reserve System (U.S.).
    7. Nurlan Turdaliev, 2019. "Heterogeneity and monetary policy," Journal of Economics, Springer, vol. 128(2), pages 119-145, October.
    8. Zhang, Cathy, 2013. "An Information-Based Theory of International Currency," MPRA Paper 42114, University Library of Munich, Germany.
    9. Alessandro Calza & Andrea Zaghini, 2011. "Welfare costs of inflation and the circulation of US currency abroad," Temi di discussione (Economic working papers) 812, Bank of Italy, Economic Research and International Relations Area.
    10. Calza, Alessandro & Zaghini, Andrea, 2015. "Shoe-leather costs in the euro area and the foreign demand for euro banknotes," Working Paper Series 1824, European Central Bank.
    11. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    12. Wang, Olivier, 2020. "Banks, low interest rates, and monetary policy transmission," Working Paper Series 2492, European Central Bank.
    13. Mehrab Kiarsi, 2022. "Tax smoothing and optimal inflation persistence in RBC monetary models revisited," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(5), pages 465-486, November.
    14. Carlsson, Mikael & Westermark, Andreas, 2016. "Labor market frictions and optimal steady-state inflation," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 67-79.

  26. Jesús Fernández-Villaverde & Pablo A. Guerrón-Quintana & Juan Rubio-Ramírez & Martín Uribe, 2009. "Risk Matters: The Real Effects of Volatility Shocks," NBER Working Papers 14875, National Bureau of Economic Research, Inc.

    Cited by:

    1. Chatterjee Pratiti, 2019. "Asymmetric impact of uncertainty in recessions: are emerging countries more vulnerable?," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 23(2), pages 1-27, April.
    2. Segal, Gill & Shaliastovich, Ivan & Yaron, Amir, 2015. "Good and bad uncertainty: Macroeconomic and financial market implications," Journal of Financial Economics, Elsevier, vol. 117(2), pages 369-397.
    3. Yusuf Soner Başkaya & Timur Hülagü & Hande Küçük, 2013. "Oil Price Uncertainty in a Small Open Economy," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(1), pages 168-198, April.
    4. Husnu C. Dalgic, 2018. "Financial Dollarization in Emerging Markets: An Insurance Arrangement," CRC TR 224 Discussion Paper Series crctr224_2018_051, University of Bonn and University of Mannheim, Germany.
    5. Koh, Dongya & Santaeulà lia-Llopis, Raül, 2022. "Countercyclical Elasticity of Substitution," CEPR Discussion Papers 17246, C.E.P.R. Discussion Papers.
    6. Susanto Basu & Brent Bundick, 2011. "Uncertainty Shocks in a Model of Effective Demand," Boston College Working Papers in Economics 774, Boston College Department of Economics, revised 01 Nov 2015.
    7. Jesús Fernández-Villaverde & Pablo Guerrón-Quintana & Juan F. Rubio-Ramírez, 2010. "Fortune or Virtue: Time-Variant Volatilities Versus Parameter Drifting in U.S. Data," NBER Working Papers 15928, National Bureau of Economic Research, Inc.
    8. Gianluca Benigno & Pierpaolo Benigno & Salvatore Nistico, 2011. "Second-Order Approximation of Dynamic Models with Time-Varying Risk," FMG Discussion Papers dp677, Financial Markets Group.
    9. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Interest Rate Volatility and Sudden Stops : An Empirical Investigation," International Finance Discussion Papers 1209, Board of Governors of the Federal Reserve System (U.S.).
    10. Saijo, Hikaru, 2017. "The uncertainty multiplier and business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 78(C), pages 1-25.
    11. Jan Babecký & Tomáš Havránek & Jakub Mateju & Marek Rusnák & Katerina Šmídková & Borek Vašícek, 2012. "Banking, Debt, and Currency Crises: Early Warning Indicators for Developed Countries," Working Papers IES 2012/20, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2012.
    12. Fernando Broner & Guido Lorenzoni & Sergio Schmuckler, 2006. "Why Do Emerging Economies Borrow Short Term?," 2006 Meeting Papers 841, Society for Economic Dynamics.
    13. Engin Kara & Ahmed Pirzada, 2020. "A Possible Explanation Of The Missing Deflation Puzzle," Economic Inquiry, Western Economic Association International, vol. 58(1), pages 361-373, January.
    14. Jose E. Gomez-Gonzalez & Jorge Hirs-Garzon & Jorge M. Uribe, 2020. "Global effects of US uncertainty: real and financial shocks on real and financial markets," IREA Working Papers 202015, University of Barcelona, Research Institute of Applied Economics, revised Oct 2020.
    15. Freund, L. B & Rendahl, P., 2020. "Unexpected Effects: Uncertainty, Unemployment, and Inflation," Cambridge Working Papers in Economics 2035, Faculty of Economics, University of Cambridge.
    16. Fischer, Manfred M. & Huber, Florian & Pfarrhofer, Michael, 2018. "The transmission of uncertainty shocks on income inequality: State-level evidence from the United States," Working Papers in Regional Science 2018/06, WU Vienna University of Economics and Business.
    17. Murray, James, 2014. "Fiscal Policy Uncertainty and Its Macroeconomic Consequences," MPRA Paper 57409, University Library of Munich, Germany.
    18. Idriss Fontaine, 2021. "Uncertainty and Labour Force Participation," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 83(2), pages 437-471, April.
    19. Bilenkisi, Fikret, 2024. "Uncertainty, labour force participation and job search," Economic Modelling, Elsevier, vol. 139(C).
    20. David Altig & Jose Maria Barrero & Nicholas Bloom & Steven J. Davis & Brent H. Meyer & Nicholas Parker, 2019. "Surveying Business Uncertainty," NBER Working Papers 25956, National Bureau of Economic Research, Inc.
    21. Troy Davig & Andrew Foerster, 2019. "Uncertainty and Fiscal Cliffs," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(7), pages 1857-1887, October.
    22. Iván Alfaro & Nicholas Bloom & Xiaoji Lin, 2024. "The Finance Uncertainty Multiplier," Journal of Political Economy, University of Chicago Press, vol. 132(2), pages 577-615.
    23. Ottonello, Pablo & Perez, Diego J. & Varraso, Paolo, 2022. "Are collateral-constraint models ready for macroprudential policy design?," Journal of International Economics, Elsevier, vol. 139(C).
    24. Jan Philipp Fritsche & Mathias Klein & Malte Rieth, 2020. "Government Spending Multipliers in (Un)certain Times," Discussion Papers of DIW Berlin 1901, DIW Berlin, German Institute for Economic Research.
    25. Croce, Mariano & Colacito, Ric & Liu, Yang & Shaliastovich, Ivan, 2018. "Volatility Risk Pass-Through," CEPR Discussion Papers 13325, C.E.P.R. Discussion Papers.
    26. François Gourio, 2013. "Credit Risk and Disaster Risk," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(3), pages 1-34, July.
    27. Sherwin Lott, 2018. "Perturbations in DSGE Models: Odd Derivatives Theorem," PIER Working Paper Archive 18-011, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 21 May 2018.
    28. Giovanni Pellegrino & Efrem Castelnuovo & Giovanni Caggiano, 2021. "Uncertainty and Monetary Policy during the Great Recession," Economics Working Papers 2021-05, Department of Economics and Business Economics, Aarhus University.
    29. Güntner, Jochen H.F., 2015. "The federal funds market, excess reserves, and unconventional monetary policy," Journal of Economic Dynamics and Control, Elsevier, vol. 53(C), pages 225-250.
    30. Mehkari, M. Saif, 2016. "Uncertainty shocks in a model with mean-variance frontiers and endogenous technology choices," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 71-98.
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  27. Stephanie Schmitt-Grohe & Martin Uribe, 2009. "On Quality Bias and Inflation Targets," NBER Working Papers 15505, National Bureau of Economic Research, Inc.

    Cited by:

    1. Shoji, Toshiaki, 2022. "Menu costs and information rigidity: Evidence from the consumption tax hike in Japan," Journal of Macroeconomics, Elsevier, vol. 72(C).
    2. Stephanie Schmitt-Grohe & Martin Uribe, 2010. "The Optimal Rate of Inflation," NBER Working Papers 16054, National Bureau of Economic Research, Inc.
    3. Oleksiy Kryvtsov, 2016. "Is there a quality bias in the Canadian CPI? Evidence from microdata," Canadian Journal of Economics, Canadian Economics Association, vol. 49(4), pages 1401-1424, November.
    4. Masashige Hamano, 2013. "On business cycles of variety and quality," DEM Discussion Paper Series 13-21, Department of Economics at the University of Luxembourg.
    5. Rodnyansky, Alexander & Van der Ghote, Alejandro & Wales, Daniel, 2022. "Product quality, measured inflation and monetary policy," Working Paper Series 2680, European Central Bank.
    6. Mineyama, Tomohide, 2022. "Revisiting the optimal inflation rate with downward nominal wage rigidity: The role of heterogeneity," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    7. Clemens Struck & Adnan Velic, 2017. "To Augment Or Not To Augment? A Conjecture On Asymmetric Technical Change," Trinity Economics Papers tep0117, Trinity College Dublin, Department of Economics.
    8. Rui Faustino, 2019. "Endogenous Quality and Firm Entry," Working Papers REM 2019/0107, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    9. Henning Weber, 2012. "Product Replacement Bias in Inflation and Its Consequences for Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44, pages 255-299, March.
    10. Ahrens, Steffen & Snower, Dennis J., 2014. "Envy, guilt, and the Phillips curve," Journal of Economic Behavior & Organization, Elsevier, vol. 99(C), pages 69-84.
    11. Ikeda, Daisuke, 2015. "Optimal inflation rates with the trending relative price of investment," Journal of Economic Dynamics and Control, Elsevier, vol. 56(C), pages 20-33.
    12. Anthony M. Diercks, 2015. "The Equity Premium, Long-Run Risk, & Optimal Monetary Policy," Finance and Economics Discussion Series 2015-87, Board of Governors of the Federal Reserve System (U.S.).
    13. Anthony Diercks, 2016. "The Equity Premium, Long-Run Risk, and Optimal Monetary Policy," 2016 Meeting Papers 207, Society for Economic Dynamics.
    14. Takushi Kurozumi & Willem Van Zandweghe, 2020. "Output-Inflation Trade-offs and the Optimal Inflation Rate," Working Papers 20-20, Federal Reserve Bank of Cleveland.
    15. Miura, Shogo, 2023. "Optimal inflation rate and fair wage," The Quarterly Review of Economics and Finance, Elsevier, vol. 88(C), pages 158-167.
    16. Weber, Henning, 2015. "Innovation and the Optimal Rate of Inflation," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113087, Verein für Socialpolitik / German Economic Association.
    17. Masashige Hamano & Francesco Zanetti, 2018. "On Quality and Variety Bias in Aggregate Prices," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(6), pages 1343-1363, September.
    18. Carlsson, Mikael & Westermark, Andreas, 2016. "Labor market frictions and optimal steady-state inflation," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 67-79.

  28. Stephanie Schmitt-Grohe & Martin Uribe, 2008. "What's News in Business Cycles," NBER Working Papers 14215, National Bureau of Economic Research, Inc.

    Cited by:

    1. Yi-Chan Tsai, 2010. "News Shocks and Costly Technology Adoption," 2010 Meeting Papers 567, Society for Economic Dynamics.
    2. Nikolay Iskrev & Sandra Gomes & Caterina Mendicino, 2013. "Monetary policy shocks: We got news!," Working Papers w201307, Banco de Portugal, Economics and Research Department.
    3. Mario Forni & Luca Sala & Luca Gambetti, 2015. "No News in Business Cycles," Working Papers 535, Barcelona School of Economics.
    4. P. F ve & J.-G. Sahuc, 2016. "In Search of the Transmission Mechanism of Fiscal Policy in the Euro Area," Working papers 585, Banque de France.
    5. Salotti, Simone & Marattin, Luigi, 2009. "On the usefulness of government spending in the EU area," MPRA Paper 19476, University Library of Munich, Germany.
    6. Ali, Syed Zahid & Anwar, Sajid, 2018. "Anticipated versus unanticipated terms of trade shocks and the J-curve phenomenon," Journal of International Money and Finance, Elsevier, vol. 81(C), pages 1-19.
    7. Saijo, Hikaru, 2017. "The uncertainty multiplier and business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 78(C), pages 1-25.
    8. Dedola, Luca & Georgiadis, Georgios & Gräb, Johannes & Mehl, Arnaud, 2018. "Does a big bazooka matter? Central bank balance-sheet policies and exchange rates," Working Paper Series 2197, European Central Bank.
    9. Wei Dai & Mark Weder & Bo Zhang, 2020. "Animal Spirits, Financial Markets, and Aggregate Instability," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(8), pages 2053-2083, December.
    10. Karel Mertens & Morten Overgaard Ravn, 2010. "Online Appendix to "Understanding the Aggregate Effects of Anticipated and Unanticipated Tax Policy Shocks"," Online Appendices 09-221, Review of Economic Dynamics.
    11. Sandra Gomes, 2011. "Housing Market Dynamics: Any News?," Working Papers w201121, Banco de Portugal, Economics and Research Department.
    12. Andrés González Gómez & Lavan Mahadeva & Diego Rodríguez & Luis Eduardo Rojas, 2009. "Monetary Policy Forecasting In A Dsge Model With Data That Is Uncertain, Unbalanced And About The Future," Borradores de Economia 5480, Banco de la Republica.
    13. Fabio Milani, 2011. "Expectation Shocks and Learning as Drivers of the Business Cycle," Economic Journal, Royal Economic Society, vol. 121(552), pages 379-401, May.
    14. Ahmed, M. Iqbal & Cassou, Steven P., 2021. "Asymmetries in the effects of unemployment expectation shocks as monetary policy shifts with economic conditions," Economic Modelling, Elsevier, vol. 100(C).
    15. Martin Gervais & Nir Jaimovich & Henry E. Siu & Yaniv Yedid-Levi, 2013. "Technological Learning and Labor Market Dynamics," NBER Working Papers 19767, National Bureau of Economic Research, Inc.
    16. George A. Alessandria & Carter B. Mix, 2021. "Trade Policy is Real News: Theory and Evidence," NBER Working Papers 28904, National Bureau of Economic Research, Inc.
    17. Luisa Lambertini & Caterina Mendicino & Maria Teresa Punzi, 2012. "Expectations-Driven Cycles in the Housing Market," Discussion Papers 12/08, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    18. Letendre, Marc-André & Obaid, Sabreena, 2020. "Emerging economy business cycles: Interest rate shocks vs trend shocks," Economic Modelling, Elsevier, vol. 93(C), pages 526-545.
    19. Yan Zhang, 2021. "Income effects, stabilization policy, and indeterminacy in one-sector models," Annals of Economics and Finance, Society for AEF, vol. 22(1), pages 109-133, May.
    20. Metiu, Norbert, 2021. "Anticipation effects of protectionist U.S. trade policies," Journal of International Economics, Elsevier, vol. 133(C).
    21. Matsumoto, Akito & Cova, Pietro & Pisani, Massimiliano & Rebucci, Alessandro, 2011. "News Shocks and Asset Price Volatility in General Equilibrium," IDB Publications (Working Papers) 3117, Inter-American Development Bank.
    22. Ryan Chahrour & Kyle Jurado, 2016. "News or Noise? The Missing Link," Boston College Working Papers in Economics 917, Boston College Department of Economics, revised 02 Nov 2017.
    23. Francesco Zanetti & Christoph Görtz & John D. Tsoukalas, 2016. "News Shocks under Financial Frictions," Economics Series Working Papers 813, University of Oxford, Department of Economics.
    24. Yifei Lyu & Eul Noh, 2022. "Cyclical variation in US government spending multipliers," Economic Inquiry, Western Economic Association International, vol. 60(2), pages 831-846, April.
    25. Eric M. Leeper & Todd B. Walker & Shu-Chun Susan Yang, 2009. "Fiscal Foresight and Information Flows," NBER Working Papers 14630, National Bureau of Economic Research, Inc.
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    2. Marco Airaudo & Salvatore Nisticò & Luis-Felipe Zanna, 2014. "Learning, Monetary Policy and Asset Prices," Working Papers 4/14, Sapienza University of Rome, DISS.
    3. Federico Di Pace & Matthias S. Hertweck, 2012. "Labour Market Frictions, Monetary Policy and Durable Goods," Working Paper Series of the Department of Economics, University of Konstanz 2012-09, Department of Economics, University of Konstanz.
    4. Matthias Gubler & Matthias S. Hertweck, 2011. "Commodity Price Shocks and the Business Cycle: Structural Evidence for the U.S," Working Paper Series of the Department of Economics, University of Konstanz 2011-03, Department of Economics, University of Konstanz.
    5. Simon Gilchrist & Raphael Schoenle & Jae W. Sim & Egon Zakrajšek, 2015. "Inflation Dynamics During the Financial Crisis," Finance and Economics Discussion Series 2015-12, Board of Governors of the Federal Reserve System (U.S.).
    6. Zeno Enders, 2020. "Heterogeneous Consumers, Segmented Asset Markets and the Real Effects of Monetary Policy," The Economic Journal, Royal Economic Society, vol. 130(628), pages 1031-1056.
    7. Johannes Hermanus Kemp & Hylton Hollander, 2020. "A medium-sized, open-economy, fiscal DSGE model of South Africa," WIDER Working Paper Series wp-2020-92, World Institute for Development Economic Research (UNU-WIDER).
    8. Estrella, Arturo, 2015. "The Price Puzzle And Var Identification," Macroeconomic Dynamics, Cambridge University Press, vol. 19(8), pages 1880-1887, December.
    9. Michael Funke & Raphael Terasa, 2020. "Will Germany's Temporary VAT Tax Rates Cut as Part of the Covid-19 Fiscal Stimulus Package Boost Consumption and Growth?," CESifo Working Paper Series 8765, CESifo.
    10. Céline Poilly & Vivien Lewis, 2011. "Firm Entry, Inflation and the Monetary Transmission Mechanism," 2011 Meeting Papers 113, Society for Economic Dynamics.
    11. Givens, Gregory, 2013. "Deep or aggregate habit formation? Evidence from a new-Keynesian business cycle model," MPRA Paper 45204, University Library of Munich, Germany.
    12. Nikhil Patel, 2016. "International Trade Finance and the Cost Channel of Monetary Policy in Open Economies," BIS Working Papers 539, Bank for International Settlements.
    13. Thomas A. Lubik & Wing Leong Teo, 2011. "Deep habits in the New Keynesian Phillips curve," Working Paper 11-08, Federal Reserve Bank of Richmond.
    14. jae sim & Raphael Schoenle & Egon Zakrajsek & Simon Gilchrist, 2015. "Financial Heterogeneity and Monetary Union," 2015 Meeting Papers 1327, Society for Economic Dynamics.
    15. Punnoose Jacob, 2015. "Deep Habits, Price Rigidities, and the Consumption Response to Government Spending," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(2-3), pages 481-510, March.
    16. Muhanji, Stella & Malikane, Christopher & Ojah, Kalu, 2013. "Price and liquidity puzzles of a monetary shock: Evidence from indebted African economies," Economic Modelling, Elsevier, vol. 33(C), pages 620-630.
    17. Alexander Kriwoluzky, 2009. "Matching Theory and Data: Bayesian Vector Autoregression and Dynamic Stochastic General Equilibrium Models," Economics Working Papers ECO2009/29, European University Institute.
    18. Givens, Gregory E., 2016. "On the gains from monetary policy commitment under deep habits," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 19-36.
    19. Liu, Haoyu & Li, Lun, 2023. "On the concavity of consumption function under habit formation," Journal of Mathematical Economics, Elsevier, vol. 106(C).
    20. Punnoose Jacob & Lenno Uuskula, 2016. "Deep habits and exchange rate pass-through," CAMA Working Papers 2016-17, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    21. P. Jacob & -, 2010. "Deep Habits, Nominal Rigidities and the Response of Consumption to Fiscal Expansions," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 10/641, Ghent University, Faculty of Economics and Business Administration.
    22. Okano, Mitsuhiro, 2021. "Optimal monetary policy in a two-country new Keynesian model with deep consumption habits," MPRA Paper 110259, University Library of Munich, Germany.
    23. Campbell Leith & Ioana Moldovan & Raffaele Rossi, 2009. "Monetary and fiscal policy under deep habits," Working Papers 2009_32, Business School - Economics, University of Glasgow.
    24. Leith, Campbell & Moldovan, Ioana & Rossi, Raffaele, 2008. "Optimal Monetary Policy in a New Keynesian Model with Habits in Consumption," SIRE Discussion Papers 2008-55, Scottish Institute for Research in Economics (SIRE).
    25. Airaudo, Marco & Olivero, María Pía, 2014. "Optimal Monetary Policy with Counter-Cyclical Credit Spreads," School of Economics Working Paper Series 2014-1, LeBow College of Business, Drexel University.
    26. Rui Faustino, 2019. "Deep Habits in New Keynesian model with durable goods," Working Papers REM 2019/0106, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    27. Lenarčič, Črt, 2018. "Oil shocks and the excise duty tax in a DSGE model setting," MPRA Paper 109982, University Library of Munich, Germany.
    28. Marco Airaudo & María Pía Olivero, 2019. "Optimal Monetary Policy with Countercyclical Credit Spreads," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(4), pages 787-829, June.
    29. Campbell Leith & Ioana Moldovan & Raffaele Rossi, 2012. "Online Appendix to "Optimal Monetary Policy in a New Keynesian Model with Habits in Consumption"," Online Appendices 09-154, Review of Economic Dynamics.
    30. Ambrocio, Gene, 2020. "Inflationary household uncertainty shocks," Bank of Finland Research Discussion Papers 5/2020, Bank of Finland.
    31. Lengnick, Matthias & Wohltmann, Hans-Werner, 2014. "Optimal monetary policy in a new Keynesian model with animal spirits and financial markets," Economics Working Papers 2014-12, Christian-Albrechts-University of Kiel, Department of Economics.
    32. George, Ammu & Huang, Jingong & Xie, Taojun, 2022. "Assessing the dual mandates of sustainability-linked monetary policy," Energy Economics, Elsevier, vol. 113(C).
    33. Krogh, Tord S., 2015. "Macro frictions and theoretical identification of the New Keynesian Phillips curve," Journal of Macroeconomics, Elsevier, vol. 43(C), pages 191-204.

  30. Morten O. Ravn & Stephanie Schmitt-Grohé & Martín Uribe, 2007. "Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate," NBER Working Papers 13328, National Bureau of Economic Research, Inc.

    Cited by:

    1. Guglielmo Maria Caporale & Davide Ciferri & Alessandro Girardi, 2008. "Fiscal Shocks and Real Exchange Rate Dynamics: Some Evidence for Latin America," CESifo Working Paper Series 2228, CESifo.
    2. International Monetary Fund, 2010. "Fiscal Policy and the Current Account," IMF Working Papers 2010/121, International Monetary Fund.
    3. Ghironi, Fabio & Lee, Jaewoo & Rebucci, Alessandro, 2015. "The valuation channel of external adjustment," Journal of International Money and Finance, Elsevier, vol. 57(C), pages 86-114.
    4. Miguel Almunia & Agustín Bénétrix & Barry Eichengreen & Kevin H. O’Rourke & Gisela Rua, 2010. "From Great Depression to Great Credit Crisis: similarities, differences and lessons [Germany: Guns, butter, and economic miracles]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 25(62), pages 219-265.
    5. Ethan Ilzetzki & Enrique G. Mendoza & Carlos A. Végh, 2010. "How Big (Small?) are Fiscal Multipliers?," CEP Discussion Papers dp1016, Centre for Economic Performance, LSE.
    6. Monacelli, Tommaso & Perotti, Roberto & Trigari, Antonella, 2010. "Unemployment fiscal multipliers," Journal of Monetary Economics, Elsevier, vol. 57(5), pages 531-553, July.
    7. Forni, Mario & Gambetti, Luca, 2016. "Government spending shocks in open economy VARs," Journal of International Economics, Elsevier, vol. 99(C), pages 68-84.
    8. Pål Boug & Thomas von Brasch & Ådne Cappelen & Roger Hammersland & Håvard Hungnes & Dag Kolsrud & Julia Skretting & Birger Strøm & Trond C. Vigtel, 2022. "Fiscal policy, macroeconomic performance and industry structure in a small open economy," Discussion Papers 984, Statistics Norway, Research Department.
    9. Hebous, Shafik, 2009. "The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal," MPRA Paper 23300, University Library of Munich, Germany, revised Jun 2010.
    10. James Cloyne, 2014. "Government spending shocks, wealth effects and distortionary taxes," Discussion Papers 1413, Centre for Macroeconomics (CFM).
    11. Agustín S. Bénétrix, 2009. "Fiscal Shocks and Real Wages," The Institute for International Integration Studies Discussion Paper Series iiisdp288, IIIS.
    12. Tsoungui Belinga,Vincent De Paul, 2016. "Effects of fiscal policy shocks in an open economy : evidence from Canada," Policy Research Working Paper Series 7654, The World Bank.
    13. Stephanie Schmitt‐Grohé & Martín Uribe, 2012. "What's News in Business Cycles," Econometrica, Econometric Society, vol. 80(6), pages 2733-2764, November.
    14. Agustín S. Bénétrix, 2009. "Fiscal Shocks and The Real Exchange Rate," 2009 Meeting Papers 1137, Society for Economic Dynamics.
    15. Leeper, Eric M., 2009. "Monetary-Fiscal Policy Interactions and Fiscal Stimulus," CEPR Discussion Papers 7509, C.E.P.R. Discussion Papers.
    16. Kollmann, Robert, 2009. "Government Purchases and the Real Exchange Rate," CEPR Discussion Papers 7427, C.E.P.R. Discussion Papers.
    17. Ethan Ilzetzki & Carlos A. Vegh, 2008. "Procyclical Fiscal Policy in Developing Countries: Truth or Fiction?," NBER Working Papers 14191, National Bureau of Economic Research, Inc.
    18. Stephen Nicar, 2015. "International Spillovers from U.S. Fiscal Policy Shocks," Open Economies Review, Springer, vol. 26(5), pages 1081-1097, November.
    19. Hafedh Bouakez & Aurélien Eyquem, 2012. "Government Spending, Monetary Policy, and the Real Exchange Rate," Cahiers de recherche 1212, CIRPEE.
    20. Athanasios O. Tagkalakis, 2014. "Fiscal policy, net exports, and the sectoral composition of output in Greece," Working Papers 186, Bank of Greece.
    21. Hafedh Bouakez & Foued Chihi & Michel Normandin, 2010. "Measuring the Effects of Fiscal Policy," Cahiers de recherche 1016, CIRPEE.
    22. Rod Tyers & Ying Zhang, 2014. "Real exchange rate determination and the China puzzle," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 28(2), pages 1-32, November.
    23. Köppl-Turyna, Monika & Lorenz, Hanno, 2016. "Demand-side economics in times of high debt: The case of the European Union," Working Papers 02, Agenda Austria.
    24. Francisco Castro & Daniel Garrote, 2015. "The effects of fiscal shocks on the exchange rate in the EMU and differences with the USA," Empirical Economics, Springer, vol. 49(4), pages 1341-1365, December.
    25. Benetrix, Agustin & Lane, Philip R., 2009. "The Impact of Fiscal Shocks on the Irish Economy," The Economic and Social Review, Economic and Social Studies, vol. 40(4), pages 407-434.
    26. Marco Riguzzi & Philipp Wegmueller, 2015. "Economic Openness and Fiscal Multipliers," Diskussionsschriften dp1504, Universitaet Bern, Departement Volkswirtschaft.
    27. Vahagn Galstyan and Philip R. Lane, 2008. "The Composition of Government Spending and the Real Exchange Rate," The Institute for International Integration Studies Discussion Paper Series iiisdp257, IIIS.
    28. Nakije Kida, 2020. "Dynamic Relationship Between Government Spending, Final Consumption and Savings: Evidence from Southeast Europe," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 521-539.
    29. Boniface Pepino Yemba, 2017. "Tax and monetary policy rules in a small open economy with disaggregated government purchases," International Journal of Monetary Economics and Finance, Inderscience Enterprises Ltd, vol. 10(2), pages 144-182.
    30. Luca Gambetti, 2012. "Fiscal Foresight, Forecast Revisions and the Effects of Government Spending in the Open Economy," UFAE and IAE Working Papers 907.12, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    31. S M Ali Abbas & Jacques Bouhga-Hagbe & Antonio Fatás & Paolo Mauro & Ricardo C Velloso, 2011. "Fiscal Policy and the Current Account," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(4), pages 603-629, November.
    32. Morten O. Ravn & Stephanie Schmitt-Grohė & Martín Uribe & Lenno Uusküla, 2010. "Deep Habits and the Dynamic Effects of Monetary Policy Shocks," NBER Chapters, in: Sticky Prices and Inflation Dynamics (NBER-TCER-CEPR), pages 236-258, National Bureau of Economic Research, Inc.
    33. Scholl, Almuth & Müller, Gernot & Enders, Zeno, 2010. "How do Fiscal and Technology Shocks affect Real Exchange Rates? New Evidence for the United States," CEPR Discussion Papers 7732, C.E.P.R. Discussion Papers.
    34. Roel Beetsma & Massimo Giuliodori, 2011. "The Effects of Government Purchases Shocks: Review and Estimates for the EU," Economic Journal, Royal Economic Society, vol. 121(550), pages 4-32, February.
    35. Anna Kormilitsina & Sarah Zubairy, 2016. "Propagation Mechanisms for Government Spending Shocks: A Bayesian Comparison," Departmental Working Papers 1608, Southern Methodist University, Department of Economics.
    36. Mehmet Yörükoglu & Mustafa Kilinc, 2012. "Globalisation of the interaction between fiscal and monetary policy," BIS Papers chapters, in: Bank for International Settlements (ed.), Fiscal policy, public debt and monetary policy in emerging market economies, volume 67, pages 335-350, Bank for International Settlements.
    37. Leeper, Eric M. & Plante, Michael & Traum, Nora, 2010. "Dynamics of fiscal financing in the United States," Journal of Econometrics, Elsevier, vol. 156(2), pages 304-321, June.
    38. Jun‐Hyung Ko & Hiroshi Morita, 2019. "Regime Switches in Japan's Fiscal Policy: Markov‐Switching VAR Approach," Manchester School, University of Manchester, vol. 87(5), pages 724-749, September.
    39. Sebastian Gechert, 2013. "What fiscal policy is most effective? A Meta Regression Analysis," IMK Working Paper 117-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    40. David Fielding, 2011. "New Zealand: The Last Bastion of Textbook Open-Economy Macroeconomics," Working Papers 1105, University of Otago, Department of Economics, revised Jun 2011.
    41. Wong, Chi Shing, 2012. "A Quantitative Study of Hong Kong's Fiscal Policy," MPRA Paper 41431, University Library of Munich, Germany.
    42. Edmira Cakrani, 2013. "Factors that Affect Real Exchange Rate in the Long-Run and Short-Run in Albania," EuroEconomica, Danubius University of Galati, issue 2(32), pages 93-100, September.
    43. Parantap Basu & Robert Kollmann, 2010. "Productive Government Purchases and the Real Exchange Rate," Working Papers ECARES 2010_001, ULB -- Universite Libre de Bruxelles.
    44. Agustín Bénétrix & Philip Lane, 2010. "Fiscal Shocks and The Sectoral Composition of Output," Open Economies Review, Springer, vol. 21(3), pages 335-350, July.
    45. Mr. Santanu Chatterjee & Mr. Azer Mursagulov, 2012. "Fiscal Policy and the Real Exchange Rate," IMF Working Papers 2012/052, International Monetary Fund.
    46. Francisco de Castro & Laura Fernández-Caballero, 2011. "The effects of fiscal shocks on the exchange rate in Spain," Working Papers 1121, Banco de España.
    47. Philip R. Lane, 2011. "External Imbalances and Macroeconomic Policy in New Zealand," The Institute for International Integration Studies Discussion Paper Series iiisdp376, IIIS.
    48. L. Marattin & M. Marzo, 2010. "The Multiplier-Effects of Non-Wasteful Government Expenditure," Working Papers 704, Dipartimento Scienze Economiche, Universita' di Bologna.
    49. Alexander Kriwoluzky, 2009. "Matching Theory and Data: Bayesian Vector Autoregression and Dynamic Stochastic General Equilibrium Models," Economics Working Papers ECO2009/29, European University Institute.
    50. Kollmann, Robert, 2010. "Comment on ‘Fiscal Policy, Intercountry Adjustment and the Real Exchange Rate within Europe (C. Allsopp and D. Vines, Oxford University)," MPRA Paper 69891, University Library of Munich, Germany.
    51. Athanasios O. Tagkalakis, 2013. "Discretionary fiscal policy and economic activity in Greece," Working Papers 169, Bank of Greece.
    52. P. Jacob & -, 2010. "Deep Habits, Nominal Rigidities and the Response of Consumption to Fiscal Expansions," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 10/641, Ghent University, Faculty of Economics and Business Administration.
    53. Campbell Leith & Ioana Moldovan & Raffaele Rossi, 2009. "Monetary and fiscal policy under deep habits," Working Papers 2009_32, Business School - Economics, University of Glasgow.
    54. Luisa Lambertini & Christian Proebsting, 2019. "Does Austerity Go Along with Internal Devaluations?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(3), pages 618-656, September.
    55. Giancarlo Corsetti & André Meier & Gernot J. Müller, 2010. "Cross-Border Spillovers from Fiscal Stimulus," International Journal of Central Banking, International Journal of Central Banking, vol. 6(1), pages 5-37, March.
    56. Ravn, Morten & Mertens, Karel, 2009. "Measuring the Impact of Fiscal Policy in the Face of Anticipation: A Structural VAR Approach," CEPR Discussion Papers 7423, C.E.P.R. Discussion Papers.
    57. Khorshed Chowdhury, 2011. "Dynamics, Structural Breaks and the Determinants of the Real Exchange Rate of Australia," Economics Working Papers wp11-11, School of Economics, University of Wollongong, NSW, Australia.
    58. Soyoung Kim, 2013. "Vector autoregressive models for macroeconomic policy analysis," Chapters, in: Nigar Hashimzade & Michael A. Thornton (ed.), Handbook of Research Methods and Applications in Empirical Macroeconomics, chapter 23, pages 555-572, Edward Elgar Publishing.
    59. Ravn, Morten O. & Schmitt-Grohé, Stephanie & Uribe, Martín, 2012. "Consumption, government spending, and the real exchange rate," Journal of Monetary Economics, Elsevier, vol. 59(3), pages 215-234.
    60. Kim, Hyeongwoo & Lee, Daeyup, 2018. "The effects of government spending shocks on the trade account balance in Korea," International Review of Economics & Finance, Elsevier, vol. 53(C), pages 57-70.
    61. Kamal, Mona, 2011. "Bayesian Estimation of Dynamic Stochastic General Equilibrium Model Using UK Data," MPRA Paper 28988, University Library of Munich, Germany.
    62. Beetsma, Roel & Giuliodori, Massimo & Klaassen, Franc, 2009. "Temporal aggregation and SVAR identification, with an application to fiscal policy," Economics Letters, Elsevier, vol. 105(3), pages 253-255, December.
    63. Andrés González & Martha Rosalba López Piñeros & Norberto Rodríguez & Santiago Téllez, 2013. "Fiscal Policy in a Small Open Economy with Oil Sector and non-Ricardian Agents," Borradores de Economia 10483, Banco de la Republica.
    64. Philip R. Lane, 2013. "External imbalances and macroeconomic policy," New Zealand Economic Papers, Taylor & Francis Journals, vol. 47(1), pages 53-70, April.
    65. Saeidinezhad, Elham, 2014. "The International Spillover of Fiscal and Technology Shocks before the Crisis: The case of the UK and Italy," MPRA Paper 98556, University Library of Munich, Germany.
    66. Marcus H. Böhme & Sarah Kups, 2017. "The economic effects of labour immigration in developing countries: A literature review," OECD Development Centre Working Papers 335, OECD Publishing.
    67. Marie-Pierre HORY & Grégory LEVIEUGE & Daria ONORI, 2018. "The (low) fiscal multiplier when debt is denominated in foreign currency," LEO Working Papers / DR LEO 2583, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    68. Maxim Vasilyevich Chernyaev & Elena Aleksandrovna Egorycheva & Anna Vadimovna Korenevskaya & Antonina Vasil'evna Sharkova, 2020. "The Belt and Road Initiative as a New China’s Foreign Economic Policy towards the ASEAN Countries," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 374-392.
    69. Florin O. Bilbiie, 2011. "Nonseparable Preferences, Frisch Labor Supply, and the Consumption Multiplier of Government Spending: One Solution to a Fiscal Policy Puzzle," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(1), pages 221-251, February.
    70. Zubairy, Sarah, 2010. "Explaining the Effects of Government Spending Shocks," MPRA Paper 26051, University Library of Munich, Germany.
    71. Karel Mertens & Morten Ravn, 2011. "The Research Agenda: Karel Mertens and Morten Ravn on Fiscal Policy, Anticipation Effects, Expectations and Crisis," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 12(2), April.
    72. Christiane Nickel & Andreas Tudyka, 2014. "Fiscal Stimulus in Times of High Debt: Reconsidering Multipliers and Twin Deficits," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(7), pages 1313-1344, October.
    73. Martha López Pineros, 2020. "Fiscal Multipliers and Balance Sheet Effects in a Small Open Economy," Revista de Economía del Rosario, Universidad del Rosario, vol. 23(2), pages 1-42, December.
    74. Kriwoluzky, Alexander, 2012. "Pre-announcement and timing: The effects of a government expenditure shock," European Economic Review, Elsevier, vol. 56(3), pages 373-388.
    75. Mr. Yehenew Endegnanew & Ms. Therese Turner-Jones & Charles Amo Yartey, 2012. "Fiscal Policy and the Current Account: Are Microstates Different?," IMF Working Papers 2012/051, International Monetary Fund.
    76. Troy Davig & Eric M. Leeper, 2009. "Expectations And Fiscal Stimulus," CAEPR Working Papers 2009-006, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    77. Sigit Setiawan, 2017. "Trade Liberalization, Consumption, and Real Exchange Rate in Seven ASEAN+6 Countries," Journal of Economics and Behavioral Studies, AMH International, vol. 9(4), pages 73-86.
    78. Mencinger, Jernej & Aristovnik, Aleksander & Verbič, Miroslav, 2017. "Asymmetric effects of fiscal policy in EU and OECD countries," Economic Modelling, Elsevier, vol. 61(C), pages 448-461.
    79. Shingal, ANIRUDH, 2011. "Foreign market access in government procurement," MPRA Paper 32814, University Library of Munich, Germany.
    80. Chowdhury, Khorshed, 2012. "Modelling the dynamics, structural breaks and the determinants of the real exchange rate of Australia," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(2), pages 343-358.
    81. Nicola Acocella, "undated". "The theoretical roots of EMU institutions and policies during the crisis," Working Papers 126/14, Sapienza University of Rome, Metodi e Modelli per l'Economia, il Territorio e la Finanza MEMOTEF.
    82. Bank for International Settlements, 2012. "Fiscal policy, public debt and monetary policy in emerging market economies," BIS Papers, Bank for International Settlements, number 67, August.
    83. Mayer, Eric & Moyen, Stéphane & Stähler, Nikolai, 2010. "Government expenditures and unemployment: A DSGE perspective," Discussion Paper Series 1: Economic Studies 2010,18, Deutsche Bundesbank.
    84. Giancarlo Corsetti & Michael P. Devereux & Luigi Guiso & John Hassler & Gilles Saint-Paul & Hans-Werner Sinn & Jan-Egbert Sturm & Xavier Vives, 2010. "Chapter 3: From Fiscal Rescue to Global Debt," EEAG Report on the European Economy, CESifo, vol. 0, pages 71-100, February.
    85. Sebastian Gechert & Ansgar Rannenberg, 2014. "Are Fiscal Multipliers Regime-Dependent? A Meta Regression Analysis," IMK Working Paper 139-2014, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    86. Ms. Marialuz Moreno Badia & Mr. Alex Segura-Ubiergo, 2014. "Real Exchange Rate Appreciation in Emerging Markets: Can Fiscal Policy Help?," IMF Working Papers 2014/001, International Monetary Fund.
    87. Mr. Jemma Dridi & Maher Hasan, 2008. "The Impact of Oil-Related Income on the Equilibrium Real Exchange Rate in Syria," IMF Working Papers 2008/196, International Monetary Fund.
    88. Amanda Michaud & Jacek Rothert, 2016. "Inequality, fiscal policy, and business cycle anomalies in emerging markets," NBP Working Papers 253, Narodowy Bank Polski.
    89. Xi Wang & Jiayang Li & Guangbin Zhang, 2022. "Mixed Monetary–Fiscal Policies and Macroeconomic Fluctuations: An Analysis Based on the Dynamic Stochastic General Equilibrium Model," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 30(2), pages 167-196, March.
    90. Martha López, 2016. "Fiscal Multipliers, Oil Revenues and Balance Sheet Effects," Borradores de Economia 976, Banco de la Republica de Colombia.
    91. Nicola Acocella, "undated". "A tale of two cities: exit policies in Washington and Frankfurt," Working Papers 117/13, Sapienza University of Rome, Metodi e Modelli per l'Economia, il Territorio e la Finanza MEMOTEF.
    92. Roel Beetsma & Massimo Giuliodori, 2010. "Discretionary Fiscal Policy: Review and Estimates for the EU," CESifo Working Paper Series 2948, CESifo.
    93. Leanghak Hok, 2020. "Competitiveness and government spending in Cambodia: An autoregressive distributed lag approach," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 16(02), pages 27-40.
    94. Bilbiie, Florin, 2009. "Non-Separable Preferences and Frisch Labor Supply: One Solution to a Fiscal Policy Puzzle," CEPR Discussion Papers 7484, C.E.P.R. Discussion Papers.
    95. Kamal, Mona, 2010. "Empirical Investigation of Fiscal Policy Shocks in the UK," MPRA Paper 26473, University Library of Munich, Germany.
    96. Philip Lane, 2010. "External Imbalances and Fiscal Policy," The Institute for International Integration Studies Discussion Paper Series iiisdp314, IIIS.

  31. Morten Ravn & Stephanie Schmitt-Grohe & Martin Uribe, 2007. "Incomplete Cost Pass-Through Under Deep Habits," NBER Working Papers 12961, National Bureau of Economic Research, Inc.

    Cited by:

    1. Di Pace, F. & Faccini, R., 2012. "Deep habits and the cyclical behaviour of equilibrium unemployment and vacancies," Journal of Economic Dynamics and Control, Elsevier, vol. 36(2), pages 183-200.
    2. Hellerstein, Rebecca & Villas-Boas, Sofia B., 2010. "Outsourcing and pass-through," Journal of International Economics, Elsevier, vol. 81(2), pages 170-183, July.
    3. Pinelopi K. Goldberg & Rebecca Hellerstein, 2007. "A framework for identifying the sources of local currency price stability with an empirical application," Staff Reports 287, Federal Reserve Bank of New York.
    4. Kleshchelski, Isaac & Vincent, Nicolas, 2009. "Market share and price rigidity," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 344-352, April.
    5. Shirota, Toyoichiro, 2017. "Not All Exchange Rate Movements Are Alike : Exchange Rate Persistence and Pass-Through to Consumer Prices," Discussion paper series. A 311, Graduate School of Economics and Business Administration, Hokkaido University.
    6. Zahra Sheidaei, 2023. "Firm specific pass through and heterogeneity," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 47(1), pages 142-156, March.
    7. J. Scott Davis & Kevin X. D. Huang, 2010. "International real business cycles with endogenous markup variability," Globalization Institute Working Papers 60, Federal Reserve Bank of Dallas.
    8. Vardges Hovhannisyan, 2018. "A structural model of cost pass-through: the case of the US yogurt retailing," Empirical Economics, Springer, vol. 55(2), pages 805-830, September.
    9. Mirko Abbritti & Asier Aguilera-Bravo & TommasoTrani, 2019. "Long-term business relationships, bargaining and monetary policy," Faculty Working Papers 03/19, School of Economics and Business Administration, University of Navarra.
    10. Georgiana Pleșa, 2024. "Impact of Globalization on Macroeconomic Dynamics Using a Time-varying Bayesian VAR," Prague Economic Papers, Prague University of Economics and Business, vol. 2024(4), pages 380-413.
    11. Föllmi, Reto & Hepenstrick, Christian & Zweimüller, Josef, 2011. "Non-homothetic preferences, parallel imports and the extensive margin of international trade," Economics Working Paper Series 1122, University of St. Gallen, School of Economics and Political Science.
    12. Punnoose Jacob & Lenno Uuskula, 2016. "Deep habits and exchange rate pass-through," CAMA Working Papers 2016-17, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    13. Nikolay Hristov, 2016. "The Ifo DSGE Model for the German Economy," ifo Working Paper Series 210, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    14. Mirko Abbritti, 2012. "Product Market Frictions, Bargaining and Pass-Through," Faculty Working Papers 19/12, School of Economics and Business Administration, University of Navarra.
    15. Mirko Abbritti & Tommaso Trani, 2014. "Search and Bargaining in the Product Market and Price Rigidities," Faculty Working Papers 09/14, School of Economics and Business Administration, University of Navarra.
    16. Antoniou, Fabio & Fiocco, Raffaele, 2020. "Storable good market with intertemporal cost variations," MPRA Paper 97948, University Library of Munich, Germany.
    17. Anna Laura Baraldi & Christian Rojas, 2011. "Cost Pass-Through with Network Externalities," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 10(3), pages 177-199, December.
    18. Adachi, Takanori & Ebina, Takeshi, 2014. "Double marginalization and cost pass-through: Weyl–Fabinger and Cowan meet Spengler and Bresnahan–Reiss," Economics Letters, Elsevier, vol. 122(2), pages 170-175.

  32. Stephanie Schmitt-Grohé & Martín Uribe, 2006. "Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version," NBER Working Papers 12402, National Bureau of Economic Research, Inc.

    Cited by:

    1. Marcos Valli & Fabia A. de Carvalho, 2010. "Fiscal and Monetary Policy Interaction: a Simulation Based Analysis of a Two-country New Keynesian DSGE Model with Heterogeneous Households," Working Papers Series 204, Central Bank of Brazil, Research Department.
    2. Huang, Kevin X.D. & Meng, Qinglai & Xue, Jianpo, 2009. "Is forward-looking inflation targeting destabilizing? The role of policy's response to current output under endogenous investment," Journal of Economic Dynamics and Control, Elsevier, vol. 33(2), pages 409-430, February.
    3. Denny Lie, 2009. "State-dependent pricing and optimal monetary policy," Working Papers 09-20, Federal Reserve Bank of Boston.
    4. Richard E. Ericson & Xuan Liu, 2012. "Welfare effect of interest rate shocks and policy implications," Applied Financial Economics, Taylor & Francis Journals, vol. 22(22), pages 1899-1917, November.
    5. Kitano Shigeto & Takaku Kenya, 2018. "Capital controls as a credit policy tool in a small open economy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 18(1), pages 1-19, January.
    6. EO, Yunjong & LIE, Denny, 2017. "The Role of Inflation Target Adjustment in Stabilization Policy," Discussion paper series HIAS-E-58, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    7. Stephanie Schmitt-Grohe & Martin Uribe, 2007. "Optimal simple and implementable monetary and fiscal rules," FRB Atlanta Working Paper 2007-24, Federal Reserve Bank of Atlanta.
    8. Christoph Kaufmann, 2016. "Optimal Fiscal Substitutes for the Exchange Rate in a Monetary Union," Working Paper Series in Economics 86, University of Cologne, Department of Economics.
    9. Kitano, Shigeto, 2011. "Capital controls and welfare," Journal of Macroeconomics, Elsevier, vol. 33(4), pages 700-710.
    10. Ekaterina Pirozhkova, 2017. "Financial frictions and robust monetary policy in the models of New Keynesian framework," BCAM Working Papers 1701, Birkbeck Centre for Applied Macroeconomics.
    11. Ishise, Hirokazu, 2022. "Optimal long-run inflation rate in an open economy," European Economic Review, Elsevier, vol. 148(C).
    12. Benjamin Carton & Dramane Coulibaly & Marc Pourroy, 2016. "Food prices and inflation targeting in emerging economies," Post-Print hal-01386045, HAL.
    13. Shigeto Kitano & Kenya Takaku, 2017. "Capital Controls, Macroprudential Regulation,and the Bank Balance Sheet Channel," Discussion Paper Series DP2017-18, Research Institute for Economics & Business Administration, Kobe University, revised Jan 2019.
    14. Shigeto Kitano & Kenya Takaku, 2016. "External Debt and Taylor Rules in a Small Open Economy," Pacific Economic Review, Wiley Blackwell, vol. 21(5), pages 541-559, December.
    15. Luigi MARATTIN & Massimiliano MARZO, 2009. "Fiscal Rules in a Highly Distorted Economy," EcoMod2009 21500064, EcoMod.
    16. Ioana Moldovan, 2008. "Countercyclical Fiscal Policy and Cyclical Factor Utilization," Working Papers 2008_15, Business School - Economics, University of Glasgow.
    17. Hao Jin, 2015. "Foreign Exchange Interventions, Capital Controls and Monetary Policy: The Case of China," CAEPR Working Papers 2015-019, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    18. Carla Soares, 2008. "Impact on Welfare of Country Heterogeneity in a Currency Union," Working Papers w200814, Banco de Portugal, Economics and Research Department.
    19. Lombardo, Giovanni & Kolasa, Marcin, 2011. "Financial frictions and optimal monetary policy in an open economy," Working Paper Series 1338, European Central Bank.
    20. Rym Aloui & Michel Guillard, 2009. "A Simple “Public Debt-Deflation” Theory: Leeper revisited," Documents de recherche 09-11, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    21. Kriwoluzky, Alexander & Stoltenberg, Christian, 2007. "Optimal policy under model uncertainty: A structural-bayesian estimation approach," SFB 649 Discussion Papers 2007-040, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    22. Levine, Paul & McAdam, Peter & Pierse, Richard & Pearlman, Joseph G., 2008. "Risk Management in Action. Robust monetary policy rules under structured uncertainty," Working Paper Series 870, European Central Bank.
    23. Salih Fendoglu, 2011. "Optimal Monetary Policy Rules, Financial Amplification, and Uncertain Business Cycles," Working Papers 1126, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    24. Alves, Sergio Afonso Lago, 2014. "Lack of divine coincidence in New Keynesian models," Journal of Monetary Economics, Elsevier, vol. 67(C), pages 33-46.
    25. Philipp Engler & Wolfgang Strehl, 2016. "The Macroeconomic Effects of Progressive Taxes and Welfare," Discussion Papers of DIW Berlin 1626, DIW Berlin, German Institute for Economic Research.
    26. Zams, Bastian Muzbar, 2021. "Frictions and empirical fit in a DSGE model for Indonesia," Economic Modelling, Elsevier, vol. 99(C).
    27. Lee, Hangyu & Kim, Tae Bong, 2023. "The effectiveness of labor market indicators for conducting monetary policy: Evidence from the Korean economy," Economic Modelling, Elsevier, vol. 118(C).
    28. Teo, Wing Leong, 2009. "Can exchange rate rules be better than interest rate rules?," Japan and the World Economy, Elsevier, vol. 21(3), pages 301-311, August.
    29. Schabert, Andreas, 2015. "Optimal central bank lending," Journal of Economic Theory, Elsevier, vol. 157(C), pages 485-516.
    30. Schmidt, Sebastian, 2018. "Time-consistent monetary policy, terms of trade manipulation and welfare in open economies," Working Paper Series 2128, European Central Bank.
    31. Shigeto Kitano & Kenya Takaku, 2020. "Financial Market Incompleteness and International Cooperation on Capital Controls," Discussion Paper Series DP2020-05, Research Institute for Economics & Business Administration, Kobe University, revised Oct 2021.
    32. Yongseung Jung, 2010. "Asset Market Structures and Monetary Policy in a Small Open Economy," Macroeconomics Working Papers 22811, East Asian Bureau of Economic Research.
    33. Shigeto Kitano & Kenya Takaku, 2017. "Capital Controls and Financial Frictions in a Small Open Economy," Open Economies Review, Springer, vol. 28(4), pages 761-793, September.
    34. Heiberger, Christopher & Maußner, Alfred, 2020. "Perturbation solution and welfare costs of business cycles in DSGE models," Journal of Economic Dynamics and Control, Elsevier, vol. 113(C).
    35. James B. Bullard & Stefano Eusepi, 2009. "When does determinacy imply expectational stability?," Working Papers 2008-007, Federal Reserve Bank of St. Louis.
    36. Sergio A. Lago Alves, 2012. "Trend Inflation and the Unemployment Volatility Puzzle," Working Papers Series 277, Central Bank of Brazil, Research Department.
    37. Jung, Yongseung, 2010. "Asset Market Structures and Monetary Policy in a Small Open Economy," ADBI Working Papers 252, Asian Development Bank Institute.
    38. Timothy Cogley & Christian Matthes & Argia M. Sbordone, 2011. "Optimal disinflation under learning," Staff Reports 524, Federal Reserve Bank of New York.
    39. Christopher Heiberger & Alfred Maussner, 2018. "Business Cycle Uncertainty and Economic Welfare Revisited," Discussion Paper Series 335, Universitaet Augsburg, Institute for Economics.
    40. Maria Ferrara & Patrizio Tirelli, 2014. "Fiscal Consolidations: Can We Reap the Gain and Escape the Pain?," Working Papers 283, University of Milano-Bicocca, Department of Economics, revised Oct 2014.
    41. William Gatt, 2018. "Housing boom-bust cycles and asymmetric macroprudential policy," CBM Working Papers WP/02/2018, Central Bank of Malta.
    42. Aino Silvo, 2019. "The Interaction of Monetary and Macroprudential Policies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(4), pages 859-894, June.
    43. Jenkins Brian C. & Salemi Michael K., 2020. "Risk averse banks and excess reserve fluctuations," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(1), pages 1-19, January.
    44. Yongseung Jung, 2010. "Asset Market Structures and Monetary Policy in a Small Open Economy," Working Papers id:3104, eSocialSciences.
    45. Liu, Xuan, 2007. "Trade Openness and the Cost of Sudden Stops: The Role of Financial Friction," MPRA Paper 18260, University Library of Munich, Germany, revised 26 Oct 2009.
    46. Strehl, Wolfgang & Engler, Philipp, 2015. "Progressive Taxation and Monetary Policy in a Currency Union," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112823, Verein für Socialpolitik / German Economic Association.
    47. Yau, Ruey & Chen, Guan-Han, 2021. "Assessing energy subsidy policies in a structural macroeconomic model," Energy Economics, Elsevier, vol. 103(C).
    48. Engin Kara & Jasmin Sin, 2012. "Fiscal Multiplier in a Credit-Constrained New Keynesian Economy," Bristol Economics Discussion Papers 12/634, School of Economics, University of Bristol, UK.
    49. Zhongyuan Geng & Xuan Liu, 2019. "Optimal input trade policy under economic uncertainties in a small open economy," Applied Economics, Taylor & Francis Journals, vol. 51(20), pages 2155-2171, April.
    50. Solikin M. Juhro & Denny Lie & Atet Rizki Wijoseno & Mohammad Aly Fikry, 2022. "Fiscal Policy Stance, Central Bank Digital Currency, And The Optimal Monetary-Macroprudential Policy Mix," Working Papers WP/01/2022, Bank Indonesia.
    51. Stracca, Livio, 2013. "Inside Money In General Equilibrium: Does It Matter For Monetary Policy?," Macroeconomic Dynamics, Cambridge University Press, vol. 17(3), pages 563-590, April.
    52. Silvo, Aino, 2016. "The interaction of monetary and macroprudential policies in economic stabilisation," Bank of Finland Research Discussion Papers 1/2016, Bank of Finland.
    53. Sergio A. Lago Alves, 2012. "Optimal Policy When the Inflation Target is not Optimal," Working Papers Series 271, Central Bank of Brazil, Research Department.

  33. Morten Ravn & Stephanie Schmitt-Grohe & Martin Uribe, 2006. "Pricing to Habits and the Law of One Price," NBER Working Papers 12731, National Bureau of Economic Research, Inc.

    Cited by:

    1. International Monetary Fund, 2010. "Fiscal Policy and the Current Account," IMF Working Papers 2010/121, International Monetary Fund.
    2. Giancarlo Corsetti & Luca Dedola & Sylvain Leduc, 2010. "Optimal monetary policy in open economies," Working Paper Series 2010-13, Federal Reserve Bank of San Francisco.
    3. Dudley Cooke, 2019. "Consumer Search, Incomplete Exchange Rate Pass‐Through, and Optimal Interest Rate Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 455-484, March.
    4. Beverly Lapham & Ayman Mnasri, 2019. "Exchange Rate Pass-Through: A Competitive Search Approach," Working Paper 1418, Economics Department, Queen's University.
    5. Johannes Hermanus Kemp & Hylton Hollander, 2020. "A medium-sized, open-economy, fiscal DSGE model of South Africa," WIDER Working Paper Series wp-2020-92, World Institute for Development Economic Research (UNU-WIDER).
    6. S M Ali Abbas & Jacques Bouhga-Hagbe & Antonio Fatás & Paolo Mauro & Ricardo C Velloso, 2011. "Fiscal Policy and the Current Account," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(4), pages 603-629, November.
    7. Jaromir B. Nosal & Lukasz A. Drozd, 2007. "Understanding International Prices: Customers as Capital," 2007 Meeting Papers 755, Society for Economic Dynamics.
    8. jae sim & Raphael Schoenle & Egon Zakrajsek & Simon Gilchrist, 2015. "Financial Heterogeneity and Monetary Union," 2015 Meeting Papers 1327, Society for Economic Dynamics.
    9. Margarita Katsimi & Vassilis Sarantides, 2009. "The Impact of Fiscal Policy on Profits," CESifo Working Paper Series 2849, CESifo.
    10. Svetlana Fedoseeva & Laura M. Werner, 2016. "How linear is pricing-to-market? Empirical assessment of hysteresis and asymmetry of PTM," Empirical Economics, Springer, vol. 50(3), pages 1065-1090, May.
    11. Lukasz Drozd, 2012. "Pricing To Market In Business Cycle Models," 2012 Meeting Papers 1108, Society for Economic Dynamics.
    12. Chang, Ming-Jen & Chang, Juin-Jen & Shieh, Jhy-Yuan, 2014. "Keeping up with the Joneses and exchange rate volatility in a Redux model," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 569-584.
    13. Ravn, Morten & Uribe, Martín & Schmitt-Grohé, Stephanie, 2007. "Pricing to Habits and the Law of One Price," CEPR Discussion Papers 6030, C.E.P.R. Discussion Papers.
    14. Punnoose Jacob & Lenno Uuskula, 2016. "Deep habits and exchange rate pass-through," CAMA Working Papers 2016-17, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    15. Okano, Mitsuhiro, 2021. "Optimal monetary policy in a two-country new Keynesian model with deep consumption habits," MPRA Paper 110259, University Library of Munich, Germany.
    16. Moore, Michael J. & Roche, Maurice J., 2010. "Solving exchange rate puzzles with neither sticky prices nor trade costs," Journal of International Money and Finance, Elsevier, vol. 29(6), pages 1151-1170, October.
    17. Andrea Salazar-Díaz & Aarón Levi Garavito-Acosta & Sergio Restrepo-Ángel & Leidy Viviana Arcila-Agudelo, 2022. "Real Equilibrium Exchange Rate in Colombia: Thousands of VEC Models Approach," Borradores de Economia 1221, Banco de la Republica de Colombia.
    18. Ayman Mnasri & Beverly Lapham, 2023. "A competitive search approach to exchange rate pass-through," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 76(1), pages 153-201, July.
    19. Ariel Burstein & Gita Gopinath, 2013. "International Prices and Exchange Rates," NBER Working Papers 18829, National Bureau of Economic Research, Inc.
    20. Maurice J. Roche & Michael J. Moore, 2010. "For Rich or for Poor: When does Uncovered Interest Parity Hold?," Working Papers 015, Toronto Metropolitan University, Department of Economics.

  34. Martín Uribe, 2006. "Individual Versus Aggregate Collateral Constraints and the Overborrowing Syndrome," NBER Working Papers 12260, National Bureau of Economic Research, Inc.

    Cited by:

    1. Stephanie Schmitt-Grohe & Martin Uribe, 2012. "Prudential Policy for Peggers," NBER Working Papers 18031, National Bureau of Economic Research, Inc.
    2. Michael B Devereux & James Yetman, 2009. "Leverage Constraints and the International Transmission of Shocks," RBA Research Discussion Papers rdp2009-08, Reserve Bank of Australia.
    3. Bora Durdu & Enrique G. Mendoza & Marco E. Terrones, 2007. "Precautionary demand for foreign assets in sudden stop economies: an assessment of the new mercantilism," International Finance Discussion Papers 911, Board of Governors of the Federal Reserve System (U.S.).
    4. Jaume Ventura & Alberto Martin & Fernando Broner, 2015. "Sovereign Risk and Secondary Markets," Working Papers 288, Barcelona School of Economics.
    5. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric R. Young, 2010. "Financial Crises and Macro-Prudential Policies," CEP Discussion Papers dp1032, Centre for Economic Performance, LSE.
    6. Parimoo, Suneil, 2024. "Cycles and self-fulfilling crises in open economies with stock collateral constraints under impatience," Journal of Mathematical Economics, Elsevier, vol. 112(C).
    7. Michael B Devereux & James Yetman, 2010. "Financial deleveraging and the international transmission of shocks," BIS Papers chapters, in: Bank for International Settlements (ed.), The international financial crisis and policy challenges in Asia and the Pacific, volume 52, pages 274-298, Bank for International Settlements.
    8. Gondo, Rocío, 2013. "Default Externalities in Emerging Market Systemic Private Debt Crises," Working Papers 2013-023, Banco Central de Reserva del Perú.
    9. Si Guo & Yun Pei & Zoe Xie, 2019. "Decentralization and Overborrowing in a Fiscal Federation," 2019 Meeting Papers 1229, Society for Economic Dynamics.
    10. Andrés Fernández & Alessandro Rebucci & Martín Uribe, 2013. "Are Capital Controls Prudential? An Empirical Investigation," NBER Working Papers 19671, National Bureau of Economic Research, Inc.
    11. Andres Fernandez & Juan Herreno, 2013. "Equilibrium Unemployment during Financial Crises," Research Department Publications IDB-WP-390, Inter-American Development Bank, Research Department.
    12. Si Guo & Yun Pei & Zoe Xie, 2018. "Fiscal Decentralization, Intergovernmental Transfer, and Overborrowing," 2018 Meeting Papers 975, Society for Economic Dynamics.
    13. Gondo, Rocío, 2014. "State Contingent Assets, Financial Crises and Pecuniary Externalities in Models with Collateral Constraints," Working Papers 2014-001, Banco Central de Reserva del Perú.

  35. Martin Uribe, 2006. "On Overborrowing," NBER Working Papers 11913, National Bureau of Economic Research, Inc.

    Cited by:

    1. Stephanie Schmitt-Grohe & Martin Uribe, 2012. "Prudential Policy for Peggers," NBER Working Papers 18031, National Bureau of Economic Research, Inc.
    2. Kitano, Shigeto, 2011. "Capital controls and welfare," Journal of Macroeconomics, Elsevier, vol. 33(4), pages 700-710.
    3. Mendicino, Caterina, 2008. "On the amplification role of collateral constraints," MPRA Paper 9425, University Library of Munich, Germany.
    4. Jing Zhang & Yun Jung Kim, 2010. "Decentralized Borrowing and Centralized Default," 2010 Meeting Papers 1288, Society for Economic Dynamics.
    5. Zhao, Yan, 2013. "Borrowing constraints and the trade balance–output comovement," Economic Modelling, Elsevier, vol. 32(C), pages 34-41.
    6. Ester Faia & Eleni Iliopulos, 2011. "Financial openness, financial frictions and optimal monetary policy," PSE-Ecole d'économie de Paris (Postprint) hal-00628737, HAL.

  36. Javier García-Cicco & Roberto Pancrazi & Martín Uribe, 2006. "Real Business Cycles in Emerging Countries?," NBER Working Papers 12629, National Bureau of Economic Research, Inc.

    Cited by:

    1. Kumar, Abhishek & Mallick, Sushanta & Sinha, Apra, 2021. "Policy errors and business cycle fluctuations: Evidence from an emerging economy," Journal of Economic Behavior & Organization, Elsevier, vol. 192(C), pages 176-198.
    2. Paula Andrea Beltrán-Saavedra, 2015. "Precio del petróleo y el ajuste de las tasas de interés en las economías emergentes," Borradores de Economia 901, Banco de la Republica de Colombia.
    3. Kirchner, Markus & Rieth, Malte, 2020. "Sovereign default risk, macroeconomic fluctuations and monetary-fiscal stabilisation," IWH Discussion Papers 22/2020, Halle Institute for Economic Research (IWH).
    4. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Interest Rate Volatility and Sudden Stops : An Empirical Investigation," International Finance Discussion Papers 1209, Board of Governors of the Federal Reserve System (U.S.).
    5. Arthur Mendes & Steven Pennings, 2025. "One Rule Fits All? Heterogeneous Fiscal Rules for Commodity Exporters When Price Shocks Can Be Persistent: Theory and Evidence," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 55, January.
    6. Rodrigo Caputo & Felipe Leal, 2021. "Optimal Monetary Policy and Incomplete Information: Does the Real Exchange Matter?," Working Papers Central Bank of Chile 916, Central Bank of Chile.
    7. Shigeto Kitano & Kenya Takaku, 2023. "Effect of sovereign wealth funds in commodity‐exporting economies when commodity prices affect interest spreads," Asian Economic Journal, East Asian Economic Association, vol. 37(3), pages 267-292, September.
    8. Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2013. "The Effects of the Saving and Banking Glut on the U.S. Economy," NBER Chapters, in: NBER International Seminar on Macroeconomics 2013, pages 52-67, National Bureau of Economic Research, Inc.
    9. Le, Ha, 2014. "Dynamics of Business Cycles in Vietnam: A comparison with Indonesia and Philippines," MPRA Paper 57010, University Library of Munich, Germany, revised 01 Jul 2014.
    10. Mădălin Viziniuc, 2017. "Potential Gains from Cooperation Between Monetary and Macroprudential Policies: The Case of an Emerging Economy," Eastern European Economics, Taylor & Francis Journals, vol. 55(5), pages 420-452, September.
    11. Albertini, Julien & Terriau, Anthony, 2019. "Informality over the life-cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 105(C), pages 182-202.
    12. Boileau, Martin & Normandin, Michel, 2017. "The price of imported capital and consumption fluctuations in emerging economies," Journal of International Economics, Elsevier, vol. 108(C), pages 67-81.
    13. Erica Perego, 2018. "Sovereign Risk and Asset Market Dynamics in the Euro Area," Working Papers 2018-18, CEPII research center.
    14. Massimo Franchi & Paolo Paruolo, 2015. "Minimality of State Space Solutions of DSGE Models and Existence Conditions for Their VAR Representation," Computational Economics, Springer;Society for Computational Economics, vol. 46(4), pages 613-626, December.
    15. Richard E. Ericson & Xuan Liu, 2012. "Welfare effect of interest rate shocks and policy implications," Applied Financial Economics, Taylor & Francis Journals, vol. 22(22), pages 1899-1917, November.
    16. Letendre, Marc-André & Obaid, Sabreena, 2020. "Emerging economy business cycles: Interest rate shocks vs trend shocks," Economic Modelling, Elsevier, vol. 93(C), pages 526-545.
    17. Pancrazi, Roberto & Prosperi, Lorenzo, 2020. "Transparency, political conflict, and debt," Journal of International Economics, Elsevier, vol. 126(C).
    18. Dovchinsuren, Khaliun, 2023. "How does excessive volatility of consumption vary across countries?," Japan and the World Economy, Elsevier, vol. 67(C).
    19. Alexander Rathke & Tobias Straumann & Ulrich Woitek, 2017. "OVERVALUED: SWEDISH MONETARY POLICY IN THE 1930s," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 58(4), pages 1355-1369, November.
    20. Cavallari, Lilia, 2022. "The international real business cycle when demand matters," Journal of Macroeconomics, Elsevier, vol. 73(C).
    21. Amanda M. Michaud & Jacek Rothert, 2017. "Redistributive Fiscal Policies and Business Cycles in Emerging Economies," Working Papers (Old Series) 1709, Federal Reserve Bank of Cleveland.
    22. Hanif, Nadim & Iqbal, Javed & Malik, Jehanzeb, 2013. "Quarterisation of national income accounts of Pakistan," MPRA Paper 45334, University Library of Munich, Germany.
    23. Brei, Michael & Buzaushina, Almira, 2015. "International financial shocks in emerging markets," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 51-74.
    24. Saidul Islam, 2024. "Investment-specific technology shocks and business cycle: evidence from a sign restriction approach," Indian Economic Review, Springer, vol. 59(1), pages 249-283, June.
    25. Castillo, Paul & Rojas, Youel, 2014. "Términos de intercambio y productividad total de factores: Evidencia empírica de los mercados emergentes de América latina," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 28, pages 27-46.
    26. Andrés Fernández & Daniel Guzmán & Ruy E. Lama & Carlos A. Vegh, 2021. "Procyclical fiscal policy and asset market incompleteness," Working Papers Central Bank of Chile 925, Central Bank of Chile.
    27. Romain Houssa & Jolan Mohimont & Chris Otrok, 2019. "A Model for International Spillovers to Emerging Markets," CESifo Working Paper Series 7702, CESifo.
    28. Jin Cheng & Meixing Dai & Frédéric Dufourt, 2014. "Banking and Sovereign Debt Crises in Monetary Union Without Central Bank Intervention," Working Papers of BETA 2014-05, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    29. Romanos Priftis & Srecko Zimic, 2018. "Sources of Borrowing and Fiscal Multipliers," Staff Working Papers 18-32, Bank of Canada.
    30. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
    31. Rahul Anand & Mr. Eswar S Prasad & Boyang Zhang, 2015. "What Measure of Inflation Should a Developing Country Central Bank Target?," IMF Working Papers 2015/205, International Monetary Fund.
    32. Hoffmann, Mathias & Krause, Michael & Tillmann, Peter, 2019. "International capital flows, external assets and output volatility," Journal of International Economics, Elsevier, vol. 117(C), pages 242-255.
    33. Pierri, Damian Rene & Montes Rojas, Gabriel & Mira, José, 2020. "Persistent current account deficits and balance of payments crises," UC3M Working papers. Economics 34239, Universidad Carlos III de Madrid. Departamento de Economía.
    34. Serdar Kabaca, 2011. "Labor Share Fluctuations in Emerging Markets: The Role of the Cost of Borrowing," Koç University-TUSIAD Economic Research Forum Working Papers 1122, Koc University-TUSIAD Economic Research Forum.
    35. Sumru Altug & Fabio Canova, 2015. "Do Institutions and Culture Matter for Business Cycles?," Working Papers 627, Barcelona School of Economics.
    36. Javier García-Cicco & Roberto Pancrazi & Martín Uribe, 2006. "Real Business Cycles in Emerging Countries?," NBER Working Papers 12629, National Bureau of Economic Research, Inc.
    37. Drechsel, Thomas & Tenreyro, Silvana, 2017. "Commodity booms and busts in emerging economies," LSE Research Online Documents on Economics 86152, London School of Economics and Political Science, LSE Library.
    38. Aliya Algozhina, 2012. "Monetary and Fiscal Policy Interactions in an Emerging Open Economy: A Non-Ricardian DSGE Approach," CERGE-EI Working Papers wp476, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    39. Liu, Xuan & Liu, Haiyong & Cai, Zongwu, 2024. "Time-varying relative risk aversion: Theoretical mechanism and empirical evidence," Journal of Empirical Finance, Elsevier, vol. 78(C).
    40. Doojav, Gan-Ochir & Luvsannyam, Davaajargal & Enkh-Amgalan, Elbegjargal, 2023. "Effects of global liquidity and commodity market shocks in a commodity-exporting developing economy," Journal of Commodity Markets, Elsevier, vol. 30(C).
    41. Rodriguez, Diego & Gonzalez, Andres & Fernandez, Andres, 2015. "Sharing a Ride on the Commodities Roller Coaster: Common Factors in Business Cycles of Emerging Economies," IDB Publications (Working Papers) 7382, Inter-American Development Bank.
    42. Marc-Andre Letendre & Sabreena Obaid, 2019. "Emerging Economy Business Cycles: Interest Rate Shocks vs Trend Shocks," Department of Economics Working Papers 2019-07, McMaster University.
    43. David Kohn & Fernando Leibovici & Håkon Tretvoll, 2021. "Trade in Commodities and Business Cycle Volatility," American Economic Journal: Macroeconomics, American Economic Association, vol. 13(3), pages 173-208, July.
    44. Arce, Fernando, 2021. "Private Overborrowing under Sovereign Risk," MPRA Paper 113176, University Library of Munich, Germany.
    45. Tenreyro, Silvana & Broadbent, Ben & Di Pace, Federico & Drechsel, Thomas & Harrison, Richard, 2019. "The Brexit Vote, Productivity Growth and Macroeconomic Adjustments in the United Kingdom," CEPR Discussion Papers 13993, C.E.P.R. Discussion Papers.
    46. Mutschler, Willi, 2014. "Identification of DSGE Models - A Comparison of Methods and the Effect of Second Order Approximation," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100598, Verein für Socialpolitik / German Economic Association.
    47. Yin Germaschewski & Shu‐Ling Wang, 2021. "Distributional effects of nonresident investors on the housing market and welfare," Review of International Economics, Wiley Blackwell, vol. 29(5), pages 1300-1326, November.
    48. Alok Johri & Shahed K. Khan & Cesar Sosa-Padilla, 2018. "Interest Rate Uncertainty and Sovereign Default Risk," Department of Economics Working Papers 2018-17, McMaster University.
    49. Katuala, Hénock M., 2021. "Frictions financières et Dynamique macroéconomique : Examen des régularités cycliques," Dynare Working Papers 66, CEPREMAP.
    50. Cavallari, Lilia & Etro, Federico, 2020. "Demand, markups and the business cycle," European Economic Review, Elsevier, vol. 127(C).
    51. Zouhair Aït Benhamou, 2018. "A Steeper slope: the Laffer Tax Curve in Developing and Emerging Economies," EconomiX Working Papers 2018-44, University of Paris Nanterre, EconomiX.
    52. Akıncı, Özge & Chahrour, Ryan, 2018. "Good news is bad news: Leverage cycles and sudden stops," Journal of International Economics, Elsevier, vol. 114(C), pages 362-375.
    53. Mr. Ruy Lama & Mr. Pau Rabanal, 2012. "Deciding to Enter a Monetary Union: TheRole of Trade and Financial Linkages," IMF Working Papers 2012/240, International Monetary Fund.
    54. Yannick Kalantzis, 2015. "Financial Fragility in Small Open Economies: Firm Balance Sheets and the Sectoral Structure," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(3), pages 1194-1222.
    55. Arezki, Rabah & Liu, Yang, 2020. "On the (Changing) asymmetry of global spillovers: Emerging markets vs. advanced economies," Journal of International Money and Finance, Elsevier, vol. 107(C).
    56. Canova, Fabio & Ciccarelli, Matteo, 2012. "ClubMed? Cyclical fluctuations in the Mediterranean basin," Journal of International Economics, Elsevier, vol. 88(1), pages 162-175.
    57. Andrés Fernandez, 2010. "“Tropical” Real Business Cycles? A Bayesian Exploration," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 28(61), pages 60-105, August.
    58. Gete, Pedro & Melkadze, Givi, 2018. "Aggregate volatility and international dynamics. The role of credit supply," Journal of International Economics, Elsevier, vol. 111(C), pages 143-158.
    59. Leonardo Martinez & Francisco Roch & Francisco Roldan & Jeromin Zettelmeyer, 2022. "Sovereign Debt," Working Papers 167, Red Nacional de Investigadores en Economía (RedNIE).
    60. Jacek Rothert, 2012. "Productivity or Demand? Identifying Sources of Fluctuations in Small Open Economies," 2012 Meeting Papers 187, Society for Economic Dynamics.
    61. Gianluca Benigno & Andrew Foerster & Christopher Otrok & Alessandro Rebucci, 2020. "Estimating Macroeconomic Models of Financial Crises: An Endogenous Regime-Switching Approach," NBER Working Papers 26935, National Bureau of Economic Research, Inc.
    62. Shigeto Kitano & Kenya Takaku, 2016. "External Debt and Taylor Rules in a Small Open Economy," Pacific Economic Review, Wiley Blackwell, vol. 21(5), pages 541-559, December.
    63. Almeida, Caio & Engel, Pedro & Valente, Joao Paulo, 2019. "Risk Aversion or Model Uncertainty? An Empirical Cross-Sectional Analysis Across Countries," Brazilian Review of Econometrics, Sociedade Brasileira de Econometria - SBE, vol. 38(2), January.
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  37. Stephanie Schmitt-Grohe & Martin Uribe, 2006. "Comparing Two Variants of Calvo-Type Wage Stickiness," NBER Working Papers 12740, National Bureau of Economic Research, Inc.

    Cited by:

    1. Matthieu Darracq Paries, 2018. "Financial frictions and monetary policy conduct," Erudite Ph.D Dissertations, Erudite, number ph18-01 edited by Ferhat Mihoubi.
    2. Darracq Pariès, Matthieu & Kok, Christoffer & Rancoita, Elena, 2019. "Macroprudential policy in a monetary union with cross-border banking," Working Paper Series 2260, European Central Bank.
    3. Jorge Basal & Patricia Carballo & Fernanda Cuitiño & Serafín Frache & José Mourelle & Helena Rodríguez & Verónica Rodríguez & Leonardo Vicente, 2016. "Un modelo estocástico de equilibrio general para la economía uruguaya," Documentos de trabajo 2016002, Banco Central del Uruguay.
    4. Vergara-Pérez, Sami D. & Venegas-Martínez, Francisco, 2022. "Estimación bayesiana de un modelo dinámico estocástico nuevo keynesiano de equilibrio general con reglas de política fiscal y monetaria para México [Bayesian estimation of a new Keynesian stochasti," MPRA Paper 115458, University Library of Munich, Germany.
    5. Chan, Jenny & Diz, Sebastian & Kanngiesser, Derrick, 2022. "Energy Prices and Household Heterogeneity: Monetary Policy in a Gas-TANK," MPRA Paper 115975, University Library of Munich, Germany, revised Dec 2022.
    6. Mariana García-Schmidt & Javier García-Cicco, 2020. "A TNT DSGE Model for Chile: Explaining the ERPT," Working Papers Central Bank of Chile 868, Central Bank of Chile.
    7. Hiroshi Morita, 2017. "Effects of Anticipated Fiscal Policy Shock on Macroeconomic Dynamics in Japan," The Japanese Economic Review, Springer, vol. 68(3), pages 364-393, September.
    8. Furlanetto, Francesco, 2011. "Fiscal stimulus and the role of wage rigidity," Journal of Economic Dynamics and Control, Elsevier, vol. 35(4), pages 512-527, April.
    9. Francesco FURLANETTO, 2007. "Fiscal Shocks and the Consumption Response when Wages are Sticky," Cahiers de Recherches Economiques du Département d'économie 07.11, Université de Lausanne, Faculté des HEC, Département d’économie.
    10. Kok, Christoffer & Rodriguez-Palenzuela, Diego & Darracq Pariès, Matthieu, 2010. "Macroeconomic propagation under different regulatory regimes: Evidence from an estimated DSGE model for the euro area," Working Paper Series 1251, European Central Bank.
    11. Katuala, Hénock M., 2021. "Frictions financières et Dynamique macroéconomique : Examen des régularités cycliques," Dynare Working Papers 66, CEPREMAP.
    12. Jordi Galí, 2010. "The Return of the Wage Phillips Curve," NBER Working Papers 15758, National Bureau of Economic Research, Inc.
    13. Anna Kormilitsina, 2009. "Oil Price Shocks and the Optimality of Monetary Policy," Departmental Working Papers 0901, Southern Methodist University, Department of Economics.
    14. Abdellah Manadir & Kevin Moran, 2018. "Optimal Bayesian Estimation of Financial Frictions: An Encompassing View," Cahiers de recherche 1816, Centre de recherche sur les risques, les enjeux économiques, et les politiques publiques.
    15. Christoph Görtz & Christopher Gunn & Thomas Lubik, 2018. "Taking Stock of TFP News Shocks: The Inventory Comovement Puzzle," Carleton Economic Papers 18-05, Carleton University, Department of Economics, revised 14 Jul 2018.
    16. Edward Nelson, 2008. "Friedman and Taylor on monetary policy rules: a comparison," Review, Federal Reserve Bank of St. Louis, vol. 90(Mar), pages 95-116.
    17. Elena Afanasyeva & Jochen Güntner, 2018. "Bank Market Power and the Risk Channel of Monetary Policy," Finance and Economics Discussion Series 2018-006, Board of Governors of the Federal Reserve System (U.S.).
    18. Neven Vidakovic, 2007. "The Impact Of The Choice Of Monetary Policyon Households," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 3(6), pages 109-120.
    19. Jorge A. Fornero, 2010. "Ricardian Equivalence Proposition in a NK DSGE Model for two Large Economies: The EU and the US," Working Papers Central Bank of Chile 563, Central Bank of Chile.
    20. Laure Simon, 2023. "Fiscal Stimulus and Skill Accumulation over the Life Cycle," Staff Working Papers 23-9, Bank of Canada.
    21. Adam Brzezinski & Yao Chen & Nuno Palma & Felix Ward, 2019. "The Vagaries of the Sea: Evidence on the Real Effects of Money from Maritime Disasters in the Spanish Empire," Economics Discussion Paper Series 1906, Economics, The University of Manchester, revised May 2022.
    22. Lim, G.C. & McNelis, Paul D., 2008. "Computational Macroeconomics for the Open Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262123061, December.
    23. Jae Won Lee, 2014. "Monetary Policy with Heterogeneous Households and Imperfect Risk-Sharing," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(3), pages 505-522, July.
    24. Teo, Wing Leong, 2009. "Can exchange rate rules be better than interest rate rules?," Japan and the World Economy, Elsevier, vol. 21(3), pages 301-311, August.
    25. Fujiwara, Ippei & Teranishi, Yuki, 2011. "Real exchange rate dynamics revisited: A case with financial market imperfections," Journal of International Money and Finance, Elsevier, vol. 30(7), pages 1562-1589.
    26. Michal Andrle & Tibor Hledik & Ondra Kamenik & Jan Vlcek, 2009. "Implementing the New Structural Model of the Czech National Bank," Working Papers 2009/2, Czech National Bank.
    27. Ivens, Annika, 2018. "Fiscal devaluation in the Euro area: The role of rigidities, non-tradables, and social security contributions," Journal of International Money and Finance, Elsevier, vol. 87(C), pages 62-81.
    28. Gisle James Natvik, 2012. "Government Spending Shocks and Rule-of-Thumb Consumers with Steady-State Inequality," Scandinavian Journal of Economics, Wiley Blackwell, vol. 114(4), pages 1414-1436, December.
    29. Francesco Furlanetto, 2009. "Fiscal stimulus in a credit crunch: the role of wage rigidity," Working Paper 2009/08, Norges Bank.
    30. Tom Holden, 2012. "Medium-frequency cycles and the remarkable near trend-stationarity of output," School of Economics Discussion Papers 1412, School of Economics, University of Surrey.
    31. Tesfaselassie, Mewael F., 2013. "Trend productivity growth and the government spending multiplier," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 197-207.
    32. Hiroshi Morita, 2017. "Effects of Anticipated Fiscal Policy Shock on Macroeconomic Dynamics in Japan," The Japanese Economic Review, Japanese Economic Association, vol. 68(3), pages 364-393, September.

  38. Schmitt-Grohé, Stephanie & Uribe, Martín, 2006. "Optimal fiscal and monetary policy in a medium-scale macroeconomic model," Working Paper Series 612, European Central Bank.

    Cited by:

    1. Jeannine Bailliu & Césaire Meh & Yahong Zhang, 2012. "Macroprudential Rules and Monetary Policy when Financial Frictions Matter," Staff Working Papers 12-6, Bank of Canada.
    2. Nicoletta Batini & Vasco Gabriel & Paul Levine & Joseph Pearlman, 2010. "A Floating versus Managed Exchange Rate Regime in a DSGE Model of India," Macroeconomics Working Papers 21992, East Asian Bureau of Economic Research.
    3. De Grauwe, Paul & Gerba, Eddie, 2018. "The role of cognitive limitations and heterogeneous expectations for aggregate production and credit cycle," Journal of Economic Dynamics and Control, Elsevier, vol. 91(C), pages 206-236.
    4. Ghironi, Fabio & Lee, Jaewoo & Rebucci, Alessandro, 2015. "The valuation channel of external adjustment," Journal of International Money and Finance, Elsevier, vol. 57(C), pages 86-114.
    5. Guido Ascari & Anna Florio, 2012. "Transparency, Expectations Anchoring and the Inflation Target," DEM Working Papers Series 022, University of Pavia, Department of Economics and Management.
    6. Guido Ascari & Giorgio Fagiolo & Andrea Roventini, 2012. "Fat-Tail Distributions and Business-Cycle Models," Working Papers 02/2012, University of Verona, Department of Economics.
    7. Daisuke Ikeda & Takushi Kurozumi, 2014. "Post-Crisis Slow Recovery and Monetary Policy," Working Papers e088, Tokyo Center for Economic Research.
    8. Stephanie Schmitt-Grohe & Martin Uribe, 2010. "The Optimal Rate of Inflation," NBER Working Papers 16054, National Bureau of Economic Research, Inc.
    9. Stephanie Schmitt-Grohe & Martin Uribe, 2007. "Optimal simple and implementable monetary and fiscal rules," FRB Atlanta Working Paper 2007-24, Federal Reserve Bank of Atlanta.
    10. Leung, Charles Ka Yui & Teo, Wing Leong, 2010. "Should the optimal portfolio be region-specific? A multi-region model with monetary policy and asset price co-movements," MPRA Paper 28216, University Library of Munich, Germany.
    11. Ariel Burstein & Christian Hellwig, 2008. "Welfare Costs of Inflation in a Menu Cost Model," 2008 Meeting Papers 1, Society for Economic Dynamics.
    12. Agliari, Anna & Pecora, Nicolò & Spelta, Alessandro, 2015. "Coexistence of equilibria in a New Keynesian model with heterogeneous beliefs," Chaos, Solitons & Fractals, Elsevier, vol. 79(C), pages 83-95.
    13. Nilsson, Kristian, 2008. "Conceptual Framework for Fiscal Policy," Occasional Papers 16, National Institute of Economic Research.
    14. Grüning, Patrick, 2016. "International endogenous growth, macro anomalies, and asset prices," SAFE Working Paper Series 83, Leibniz Institute for Financial Research SAFE, revised 2016.
    15. Coenen, Günter & McAdam, Peter & Straub, Roland, 2008. "Tax reform and labour-market performance in the euro area: A simulation-based analysis using the New Area-Wide Model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(8), pages 2543-2583, August.
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    1. Rannenberg, Ansgar, 2012. "Asymmetric information in credit markets, bank leverage cycles and macroeconomic dynamics," Working Paper Series 1487, European Central Bank.
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    6. Victor Dorofeenko & Gabriel S. Lee & Kevin D. Salyer, 2008. "Time‐Varying Uncertainty And The Credit Channel," Bulletin of Economic Research, Wiley Blackwell, vol. 60(4), pages 375-403, October.
    7. De Grauwe, Paul & Ji, Yuemei, 2016. "Inflation Targets And The Zero Lower Bound In A Behavioral Macroeconomic Model," CEPR Discussion Papers 11320, C.E.P.R. Discussion Papers.
    8. Stephanie Schmitt-Grohe & Martin Uribe, 2007. "Optimal simple and implementable monetary and fiscal rules," FRB Atlanta Working Paper 2007-24, Federal Reserve Bank of Atlanta.
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    10. KIM, Jinill & RUGE-MURCIA, Francisco J., 2009. "Monetary Policy When Wages Are Downwardly Rigid : Friedman Meets Tobin," Cahiers de recherche 15-2009, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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    31. Tesfaselassie, Mewael F., 2011. "Trend growth and the dynamic effects of government spending," Kiel Working Papers 1678, Kiel Institute for the World Economy (IfW Kiel).
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    33. José-Elías Gallegos, 2023. "Inflation persistence, noisy information and the Phillips curve," Working Papers 2309, Banco de España.
    34. Martin Møller Andreasen, 2008. "Ensuring the Validity of the Micro Foundation in DSGE Models," CREATES Research Papers 2008-26, Department of Economics and Business Economics, Aarhus University.
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    38. Tack Yun & J. David Lopez-Salido & Andrew Levin, 2007. "Strategic Complementarities and Optimal Monetary Policy," 2007 Meeting Papers 1016, Society for Economic Dynamics.
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    40. Kevin X. D. Huang & Munechika Katayama & Mototsugu Shintani & Takayuki Tsuruga, 2022. "Sticky wages in a world of ideas," Economic Inquiry, Western Economic Association International, vol. 60(4), pages 1757-1781, October.
    41. Bodenstein Martin R. & Armenter Roc, 2009. "Of Nutters and Doves," The B.E. Journal of Macroeconomics, De Gruyter, vol. 9(1), pages 1-22, September.
    42. Paul Grauwe & Yuemei Ji, 2018. "Behavioural Economics is Useful Also in Macroeconomics: The Role of Animal Spirits," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(2), pages 203-216, June.
    43. Annicchiarico, Barbara & Rossi, Lorenza, 2013. "Optimal monetary policy in a New Keynesian model with endogenous growth," Journal of Macroeconomics, Elsevier, vol. 38(PB), pages 274-285.
    44. Anthony M. Diercks, 2015. "The Equity Premium, Long-Run Risk, & Optimal Monetary Policy," Finance and Economics Discussion Series 2015-87, Board of Governors of the Federal Reserve System (U.S.).
    45. Yunqing Wang & Qigui Zhu, 2015. "Energy price shocks, monetary policy and China's economic fluctuations," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 29(1), pages 126-141, May.
    46. Faia, Ester, 2009. "Ramsey monetary policy with labor market frictions," Journal of Monetary Economics, Elsevier, vol. 56(4), pages 570-581, May.
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    49. Michael D. Plante, 2012. "How should monetary policy respond to changes in the relative price of oil? considering supply and demand shocks," Working Papers 1202, Federal Reserve Bank of Dallas.
    50. Meenakshi Basant Roi & Rhys R. Mendes, 2007. "Should Central Banks Adjust Their Target Horizons in Response to House-Price Bubbles?," Discussion Papers 07-4, Bank of Canada.
    51. S. Boragan Aruoba & Frank Schorfheide, 2009. "Sticky Prices Versus Monetary Frictions: An Estimation of Policy Trade-offs," NBER Working Papers 14870, National Bureau of Economic Research, Inc.
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    53. Sveen, Tommy & Weinke, Lutz, 2013. "The Taylor principle in a medium-scale macroeconomic model," Journal of Economic Dynamics and Control, Elsevier, vol. 37(12), pages 3034-3043.
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    55. Luisa Lambertini & Caterina Mendicino & Maria Teresa Punzi, 2011. "Leaning Against Boom-Bust Cycles in Credit and Housing Prices," Working Papers CELEG 1104, Dipartimento di Economia e Finanza, LUISS Guido Carli.
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    67. Merola, Rossana, 2010. "Financial frictions and the zero lower bound on interest rates: a DSGE analysis," MPRA Paper 29365, University Library of Munich, Germany.
    68. Adjemian, Stéphane & Darracq Pariès, Matthieu, 2008. "Optimal monetary policy and the transmission of oil-supply shocks to the euro area under rational expectations," Working Paper Series 962, European Central Bank.
    69. Matteo Iacoviello, 2014. "OccBin: A Toolkit for Solving Dynamic Models With Occasionally Binding Constraints Easily," 2014 Meeting Papers 801, Society for Economic Dynamics.
    70. Martin Møller Andreasen, 2008. "Non-linear DSGE Models, The Central Difference Kalman Filter, and The Mean Shifted Particle Filter," CREATES Research Papers 2008-33, Department of Economics and Business Economics, Aarhus University.
    71. Zhao, Hong, 2022. "On the impacts of trend inflation in an open economy," Journal of International Economics, Elsevier, vol. 138(C).
    72. Mehrab Kiarsi, 2022. "Tax smoothing and optimal inflation persistence in RBC monetary models revisited," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(5), pages 465-486, November.
    73. Adjemian, Stéphane & Darracq Pariès, Matthieu & Smets, Frank, 2008. "A quantitative perspective on optimal monetary policy cooperation between the US and the euro area," Working Paper Series 884, European Central Bank.
    74. Tommaso Monacelli, 2006. "Optimal Monetary Policy with Collateralized Household Debt and Borrowing Constraints," NBER Working Papers 12470, National Bureau of Economic Research, Inc.
    75. Julio A. CARRILLO & Celine POILLY, 2010. "On the Recovery Path during a Liquidity Trap: Do Financial Frictions Matter for Fiscal Multipliers?," LIDAM Discussion Papers IRES 2010034, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).

  41. Martin Uribe & Stephanie Schmitt-Grohe, 2005. "Optimal Fiscal and Monetary Policy In A Medium Scale Macro Model," Computing in Economics and Finance 2005 476, Society for Computational Economics.

    Cited by:

    1. Sihao Chen & Michael B. Devereux & Jenny Xu & Kang Shi, 2018. "Exchange Rates, Local Currency Pricing and International Tax Policies," NBER Working Papers 25111, National Bureau of Economic Research, Inc.
    2. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2015. "Optimal fiscal and monetary policy action in a closed economy," Economic Modelling, Elsevier, vol. 48(C), pages 175-188.
    3. Chafwehé, Boris & Colciago, Andrea & Priftis, Romanos, 2024. "Reallocation, productivity, and monetary policy in an energy crisis," Bank of England working papers 1091, Bank of England.
    4. Cho, Daeha & Han, Yoonshin & Oh, Joonseok & Rogantini Picco, Anna, 2021. "Uncertainty shocks, precautionary pricing, and optimal monetary policy," Journal of Macroeconomics, Elsevier, vol. 69(C).
    5. William Ginn & Marc Pourroy, 2022. "The Contribution of Food Subsidy Policy to Monetary Policy in India," Post-Print hal-02944209, HAL.
    6. Sims, Eric & Wolff, Jonathan, 2018. "The state-dependent effects of tax shocks," European Economic Review, Elsevier, vol. 107(C), pages 57-85.
    7. Kamalyan, Hayk, 2021. "The State-Dependent Effects of Monetary Policy," MPRA Paper 107489, University Library of Munich, Germany.
    8. Ester Faia & Vincenzo Pezone, 2024. "The Cost of Wage Rigidity," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 91(1), pages 301-339.
    9. Luigi MARATTIN & Massimiliano MARZO & Paolo ZAGAGLIA, 2010. "Distortionary Tax Instruments and Implementable Monetary Policy," EcoMod2010 259600110, EcoMod.
    10. Cantore, Cristiano & Freund, Lukas, 2020. "Workers, capitalists, and the government: fiscal policy and income (re)distribution," Bank of England working papers 858, Bank of England.
    11. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2017. "Fiscal consolidation and its cross-country effects," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 55-106.
    12. Yasuo Hirose & Takushi Kurozumi & Wille Van Zandweghe, 2023. "Inflation Gap Persistence, Indeterminacy, and Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 867-887, December.
    13. Reicher, Claire, 2014. "Systematic fiscal policy and macroeconomic performance: A critical overview of the literature," Economics Discussion Papers 2014-29, Kiel Institute for the World Economy (IfW Kiel).
    14. Giorgio Motta & Patrizio Tirelli, 2013. "Limited Asset Market Participation, Income Inequality and Macroeconomic Volatility," Working Papers 261, University of Milano-Bicocca, Department of Economics, revised Dec 2013.
    15. Davide Debortoli & Junior Maih & Ricardo Nunes, 2010. "Loose commitment in medium-scale macroeconomic models: Theory and an application," Working Paper 2010/25, Norges Bank.
    16. Dib, Ali & Mendicino, Caterina & Zhang, Yahong, 2013. "Price-level targeting rules and financial shocks: The case of Canada," Economic Modelling, Elsevier, vol. 30(C), pages 941-953.
    17. Pedro Gomis-Porqueras & Christopher J. Waller, 2017. "Optimal Taxes Under Private Information: The Role of the Inflation," Working Papers 2017-014, Federal Reserve Bank of St. Louis, revised 20 Aug 2020.
    18. Adiya Belgibayeva & Michal Horvath, 2017. "Real Rigidities and Optimal Stabilization at the Zero Lower Bound in New Keynesian Economies," Birkbeck Working Papers in Economics and Finance 1701, Birkbeck, Department of Economics, Mathematics & Statistics.
    19. Matheron, Julien & Poilly, Céline, 2009. "How well does a small structural model with sticky prices and wages fit postwar U.S. data?," Economic Modelling, Elsevier, vol. 26(1), pages 266-284, January.
    20. Keuschnigg, Christian & Kirschner, Linda & Kogler, Michael & Winterberg, Hannah, 2020. "Italy in the Eurozone," CEPR Discussion Papers 15040, C.E.P.R. Discussion Papers.
    21. Roy Havemann & Hylton Hollander, 2022. "Fiscal policy in times of fiscal stress: Or what to do when r > g," WIDER Working Paper Series wp-2022-52, World Institute for Development Economic Research (UNU-WIDER).
    22. Carlstrom, Charles T. & Fuerst, Timothy S. & Paustian, Matthias, 2015. "Inflation and output in New Keynesian models with a transient interest rate peg," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 230-243.
    23. Antoine Lepetit, 2019. "Online Appendix to "Asymmetric Unemployment Fluctuations and Monetary Policy Trade-Offs"," Online Appendices 18-94, Review of Economic Dynamics.
    24. Ralph S.J. Koijen & Jules H. van Binsbergen & Juan F. Rubio-Ramírez & Jesus Fernandez-Villaverde, 2008. "Likelihood Estimation of DSGE Models with Epstein-Zin Preferences," 2008 Meeting Papers 1099, Society for Economic Dynamics.
    25. Ginn, William, 2024. "The paradox of fossil fuel subsidies," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 333-358.
    26. Lorenzo Forni & Mehrab Kiarsi, 2023. "Optimal Climate and Monetary-Fiscal Policy in a Climate-DSGE Framework," "Marco Fanno" Working Papers 0299, Dipartimento di Scienze Economiche "Marco Fanno".
    27. Gebauer Stefan, 2021. "Welfare-Based Optimal Macroprudential Policy with Shadow Banks," Working papers 817, Banque de France.
    28. Benmir, Ghassane & Jaccard, Ivan & Vermandel, Gauthier, 2023. "Optimal monetary policy in an estimated SIR model," Working Paper Series 2847, European Central Bank.
    29. Giacomo Candian & Mikhail Dmitriev, 2020. "Online Appendix to "Risk Aversion, Uninsurable Idiosyncratic Risk, and the Financial Accelerator"," Online Appendices 18-70, Review of Economic Dynamics.
    30. Bianchi-Vimercati, Riccardo & Eichenbaum, Martin & Guerreiro, Joao, 2024. "Fiscal stimulus with imperfect expectations: Spending vs. tax policy," Journal of Economic Theory, Elsevier, vol. 217(C).
    31. Katrin Rabitsch, 2010. "The role of financial market structure and the trade elasticity for monetary policy in open economies," MNB Working Papers 2010/5, Magyar Nemzeti Bank (Central Bank of Hungary).
    32. Jesús Fernández-Villaverde & Pablo Guerrón-Quintana & Juan F. Rubio-Ramirez, 2010. "Reading the recent monetary history of the U.S., 1959-2007," Working Papers 10-15, Federal Reserve Bank of Philadelphia.
    33. Alpanda, Sami & Zubairy, Sarah, 2017. "Addressing household indebtedness: Monetary, fiscal or macroprudential policy?," European Economic Review, Elsevier, vol. 92(C), pages 47-73.
    34. Charles T. Carlstrom & Timothy S. Fuerst & Matthias Paustian, 2016. "Optimal Contracts, Aggregate Risk, and the Financial Accelerator," American Economic Journal: Macroeconomics, American Economic Association, vol. 8(1), pages 119-147, January.
    35. Omotosho, Babatunde Samson, 2022. "Oil price shocks and monetary policy in resource-rich economies: Does capital matter?," Journal of Economic Dynamics and Control, Elsevier, vol. 143(C).
    36. Canzoneri, Matthew & Cumby, Robert & Diba, Behzad, 2010. "The Interaction Between Monetary and Fiscal Policy," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 17, pages 935-999, Elsevier.
    37. Noussair, C.N. & Pfajfar, D. & Zsiros, J., 2011. "Frictions, Persistence, and Central Bank Policy in an Experimental Dynamic Stochastic General Equilibrium Economy," Other publications TiSEM 0d53d81a-530d-4ff8-b281-5, Tilburg University, School of Economics and Management.
    38. Girstmair, Stefan, 2024. "The effect of new housing supply in structural models: a forecasting performance evaluation," Working Paper Series 2895, European Central Bank.
    39. Faia, Ester & Pezone, Vincenzo, 2020. "The Heterogeneous Cost of Wage Rigidity: Evidence and Theory," SAFE Working Paper Series 242, Leibniz Institute for Financial Research SAFE, revised 2020.
    40. Ferrara, Maria & Tirelli, Patrizio, 2017. "Equitable fiscal consolidations," Economic Modelling, Elsevier, vol. 61(C), pages 207-223.
    41. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2016. "Fiscal consolidation in an open economy with sovereign premia and without monetary policy independence," MPRA Paper 81327, University Library of Munich, Germany.
    42. Maria Ferrara & Patrizio Tirelli, 2015. "Disinflation and Inequality in a DSGE monetary model: A Welfare Analysis," Working Papers 305, University of Milano-Bicocca, Department of Economics, revised Jul 2015.
    43. Adam Brzezinski & Yao Chen & Nuno Palma & Felix Ward, 2019. "The Vagaries of the Sea: Evidence on the Real Effects of Money from Maritime Disasters in the Spanish Empire," Economics Discussion Paper Series 1906, Economics, The University of Manchester, revised May 2022.
    44. Victoria Nuguer, 2016. "Financial Intermediation in a Global Environment," International Journal of Central Banking, International Journal of Central Banking, vol. 12(3), pages 291-344, September.
    45. Patrizio Tirelli & Maria Ferrara, 2020. "Disinflation, Inequality, And Welfare In A Tank Model," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1297-1313, July.
    46. Cavalcanti, Marco A.F.H. & Vereda, Luciano & Doctors, Rebeca de B. & Lima, Felipe C. & Maynard, Lucas, 2018. "The macroeconomic effects of monetary policy shocks under fiscal rules constrained by public debt sustainability," Economic Modelling, Elsevier, vol. 71(C), pages 184-201.
    47. Colciago, Andrea & Silvestrini, Riccardo, 2022. "Monetary policy, productivity, and market concentration," European Economic Review, Elsevier, vol. 142(C).
    48. Jules H. van Binsbergen & Jesús Fernández-Villaverde & Ralph S.J. Koijen & Juan F. Rubio-Ramírez, 2010. "The Term Structure of Interest Rates in a DSGE Model with Recursive Preferences," PIER Working Paper Archive 10-011, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    49. Noussair, C.N. & Pfajfar, D. & Zsiros, J., 2011. "Frictions, Persistence, and Central Bank Policy in an Experimental Dynamic Stochastic General Equilibrium Economy," Discussion Paper 2011-030, Tilburg University, Center for Economic Research.
    50. George Economides & Apostolis Philippopoulos & Petros Varthalitis, 2016. "Monetary Union, Even Higher Integration, or Back to National Currencies?," CESifo Economic Studies, CESifo Group, vol. 62(2), pages 232-255.
    51. Mishkin, Frederic S., 2017. "Rethinking monetary policy after the crisis," Journal of International Money and Finance, Elsevier, vol. 73(PB), pages 252-274.
    52. Liu, Zongming & Shi, Wenhui, 2024. "Oil price disaster risk, macroeconomic dynamics and monetary policy," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    53. Mendicino, Caterina & Punzi, Maria Teresa, 2014. "House Prices, Capital Inflows and Macroprudential Policy," Department of Economics Working Paper Series 180, WU Vienna University of Economics and Business.
    54. Airaudo, Marco & Cardani, Roberta & Lansing, Kevin J., 2013. "Monetary policy and asset prices with belief-driven fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 37(8), pages 1453-1478.
    55. William Ginn & Marc Pourroy, 2020. "Should a central bank react to food inflation? Evidence from an estimated model for Chile," Post-Print hal-03579680, HAL.
    56. Arnoud Stevens, 2015. "Optimal monetary policy response to endogenous oil price fluctuations," Working Paper Research 277, National Bank of Belgium.
    57. Christian Keuschnigg & Linda Kirschner & Michael Kogler & Hannah Winterberg, 2023. "Monetary union, asymmetric recession, and exit," Review of International Economics, Wiley Blackwell, vol. 31(5), pages 1833-1863, November.
    58. Tannous Kass-Hanna & Julien Reynaud & Chris Walker, 2023. "Estimating Fiscal Multipliers Under Alternative Exchange Rate Regimes: The Case of Bolivia," IMF Working Papers 2023/240, International Monetary Fund.
    59. Alok Johri & Bidyut Talukdar, 2023. "Organizational capital and optimal Ramsey taxation," Indian Economic Review, Springer, vol. 58(1), pages 193-210, July.
    60. Maria Ferrara & Patrizio Tirelli, 2014. "Fiscal Consolidations: Can We Reap the Gain and Escape the Pain?," Working Papers 283, University of Milano-Bicocca, Department of Economics, revised Oct 2014.
    61. Charles T. Carlstrom & Timothy S. Fuerst, 2016. "Macro Credit Policy and the Financial Accelerator," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 48(8), pages 1725-1751, December.
    62. Zouhair Aït Benhamou, 2018. "A Steeper slope: the Laffer Tax Curve in Developing and Emerging Economies," Working Papers hal-04141686, HAL.
    63. Agustín Arias & Markus Kirchner, 2019. "Shifting Inflation Expectations and Monetary Policy," Working Papers Central Bank of Chile 829, Central Bank of Chile.
    64. Noussair, C.N. & Pfajfar, D. & Zsiros, J., 2011. "Frictions, Persistence, and Central Bank Policy in an Experimental Dynamic Stochastic General Equilibrium Economy," Other publications TiSEM 1086a234-17a8-45d6-91d2-0, Tilburg University, School of Economics and Management.
    65. Lenney, Jamie, 2022. "Monetary policy transmission, the labour share and HANK models," Bank of England working papers 960, Bank of England.
    66. Kamalyan, Hayk, 2021. "Phase-Dependent Monetary and Fiscal Policy," MPRA Paper 110341, University Library of Munich, Germany.
    67. Claudio Cesaroni, 2017. "Optimal Long-Run Inflation and the Informal Economy," Bank of Lithuania Working Paper Series 46, Bank of Lithuania.
    68. Hirschbühl, Dominik & Spitzer, Martin, 2021. "International medium-term business cycles," Working Paper Series 2536, European Central Bank.
    69. Fueki, Takuji & Hürtgen, Patrick & Walker, Todd B., 2024. "Zero-risk weights and capital misallocation," Discussion Papers 16/2024, Deutsche Bundesbank.
    70. Kim, Hwagyun & Mathur, Vipul & Shin, Jong Kook & Subramanian, Chetan, 2023. "Misallocation of debt and aggregate productivity," Journal of Corporate Finance, Elsevier, vol. 83(C).

  42. Stephanie Schmitt-Grohe & Martin Uribe, 2004. "Optimal Operational Monetary Policy in the Christiano-Eichenbaum-Evans Model of the U.S. Business Cycle," NBER Working Papers 10724, National Bureau of Economic Research, Inc.

    Cited by:

    1. Guerron-Quintana, Pablo A., 2011. "The implications of inflation in an estimated new Keynesian model," Journal of Economic Dynamics and Control, Elsevier, vol. 35(6), pages 947-962, June.
    2. Guido Ascari & Tiziano Ropele, 2009. "Trend Inflation, Taylor Principle, and Indeterminacy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(8), pages 1557-1584, December.
    3. Jess Benhabib & Stefano Eusepi, 2005. "The design of monetary and fiscal policy: a global perspective," Proceedings, Federal Reserve Bank of San Francisco.
    4. Faia, Ester, 2006. "Optimal monetary policy rules with labor market frictions," Working Paper Series 698, European Central Bank.
    5. Matthieu Darracq Paries, 2018. "Financial frictions and monetary policy conduct," Erudite Ph.D Dissertations, Erudite, number ph18-01 edited by Ferhat Mihoubi.
    6. Eric Jondeau & Jean-Guillaume Sahuc, 2008. "Optimal Monetary Policy in an Estimated DSGE Model of the Euro Area with Cross-Country Heterogeneity," International Journal of Central Banking, International Journal of Central Banking, vol. 4(2), pages 23-72, June.
    7. Stelios Sakkas & Petros Varthalitis, 2021. "Public Debt Consolidation and its Distributional Effects," Manchester School, University of Manchester, vol. 89(S1), pages 131-174, September.
    8. Wieland, Volker & Taylor, John B., 2010. "Surprising comparative properties of monetary models: Results from a new model database," Working Paper Series 1261, European Central Bank.
    9. Ghosh, Saurabh & Mazumder, Debojyoti, 2021. "Do NBFCs Propagate Real Shocks?," MPRA Paper 110596, University Library of Munich, Germany.
    10. Yunus Aksoy & Henrique S. Basso & Javier Coto-Martinez, 2009. "Lending Relationships and Monetary Policy," Birkbeck Working Papers in Economics and Finance 0912, Birkbeck, Department of Economics, Mathematics & Statistics.
    11. NANA DAVIES, Charles, 2018. "Sources of Macroeconomic Fluctuations in a Franc Zone Country: A Bayesian estimation," MPRA Paper 99998, University Library of Munich, Germany.
    12. Dib, Ali & Mendicino, Caterina & Zhang, Yahong, 2013. "Price-level targeting rules and financial shocks: The case of Canada," Economic Modelling, Elsevier, vol. 30(C), pages 941-953.
    13. Ester Faia, 2008. "Optimal Monetary Policy with Credit Augmented Liquidity Cycles," 2008 Meeting Papers 414, Society for Economic Dynamics.
    14. Nora Traum & Shu-Chun Susan Yang, 2010. "Does Government Debt Crowd Out Investment? A Bayesian DSGE Approach: Working Paper 2010-02," Working Papers 21397, Congressional Budget Office.
    15. Angeloni, Ignazio & Faia, Ester, 2009. "A tale of two policies: prudential regulation and monetary policy with fragile banks," Kiel Working Papers 1569, Kiel Institute for the World Economy (IfW Kiel).
    16. Ascari, Guido & Ropele, Tiziano, 2013. "Disinflation effects in a medium-scale New Keynesian model: Money supply rule versus interest rate rule," European Economic Review, Elsevier, vol. 61(C), pages 77-100.
    17. Woodford, Michael, 2010. "Optimal Monetary Stabilization Policy," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 14, pages 723-828, Elsevier.
    18. Ghosh, Saurabh & Mazumder, Debojyoti, 2023. "Do NBFCs propagate real shocks?," Journal of Asian Economics, Elsevier, vol. 85(C).
    19. Guido Ascari & Nicola Branzoli, 2010. "Inflation persistence, Price Indexation and Optimal Simple Interest Rate Rules," Quaderni di Dipartimento 129, University of Pavia, Department of Economics and Quantitative Methods.
    20. Colciago, Andrea, 2005. "Rule of Thumb Consumers Meet Sticky Wages," MPRA Paper 3275, University Library of Munich, Germany, revised 27 Apr 2007.
    21. Giorgio Motta & Patrizio Tirelli, 2010. "Money Targeting, Heterogeneous Agents and Dynamic Instability," Working Papers 193, University of Milano-Bicocca, Department of Economics, revised Jul 2010.
    22. Di Bartolomeo, Giovanni & Manzo, Marco, 2007. "Do tax distortions lead to more indeterminacy? A New Keynesian perspective," MPRA Paper 3549, University Library of Munich, Germany.
    23. Benmir, Ghassane & Jaccard, Ivan & Vermandel, Gauthier, 2023. "Optimal monetary policy in an estimated SIR model," Working Paper Series 2847, European Central Bank.
    24. Guerron-Quintana, Pablo A., 2008. "Refinements on macroeconomic modeling: The role of non-separability and heterogeneous labor supply," Journal of Economic Dynamics and Control, Elsevier, vol. 32(11), pages 3613-3630, November.
    25. Carlos Garcia & Wildo Gonzalez, 2010. "Is more exchange rate intervention necessary in small open economies? The role of risk premium and commodity shocks," ILADES-UAH Working Papers inv248, Universidad Alberto Hurtado/School of Economics and Business.
    26. Guerello, Chiara, 2014. "The cost of deviating from the optimal monetary policy: A panel VAR analysis," Journal of Financial Stability, Elsevier, vol. 15(C), pages 210-229.
    27. Pablo A. Guerron-Quintana, 2010. "What you match does matter: the effects of data on DSGE estimation," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 25(5), pages 774-804.
    28. Tommaso Monacelli & Ester Faia, 2005. "Optimal Interest Rate Rules, Asset Prices and Credit Frictions," Computing in Economics and Finance 2005 452, Society for Computational Economics.
    29. Consolo, Agostino & Hertweck, Matthias S., 2010. "Shocks and frictions under right-to-manage wage bargaining: a transatlantic perspective," Working papers 2010/01, Faculty of Business and Economics - University of Basel.
    30. Sala, Luca & Söderström, Ulf & Trigari, Antonella, 2008. "Monetary Policy Under Uncertainty in an Estimated Model with Labour Market Frictions," CEPR Discussion Papers 6826, C.E.P.R. Discussion Papers.
    31. Stephanie Schmitt-Grohé & Martín Uribe, 2006. "Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version," NBER Working Papers 12402, National Bureau of Economic Research, Inc.
    32. Stylianos Asimakopoulos & Marco Lorusso & Luca Pieroni, 2021. "Can public spending boost private consumption?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(3), pages 1275-1313, November.
    33. Adjemian, Stéphane & Darracq Pariès, Matthieu & Moyen, Stéphane, 2007. "Optimal monetary policy in an estimated DSGE for the euro area," Working Paper Series 803, European Central Bank.
    34. Stephanie Schmitt-Grohe & Martin Uribe, 2005. "Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model: Expanded Version," NBER Working Papers 11417, National Bureau of Economic Research, Inc.
    35. Mandler, Martin, 2006. "Are there gains from including monetary aggregates and stock market indices in the monetary policy reaction function? A simulation study of recent U.S. monetary policy," MPRA Paper 2318, University Library of Munich, Germany.
    36. Cole, Alexandre Lucas & Guerello, Chiara & Traficante, Guido, 2023. "Government Debt Deleveraging in the EMU," MPRA Paper 115980, University Library of Munich, Germany.
    37. Riadh El Ferktaji & Ferhat Mihoubi, 2006. "Un modèle d’équilibre général dynamique pour une petite économie ouverte avec des effets Balassa-Samuelson," Documents de recherche 06-07, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    38. Ludger Linnemann & Andreas Schabert, 2006. "Productive Government Expenditure In Monetary Business Cycle Models," Scottish Journal of Political Economy, Scottish Economic Society, vol. 53(1), pages 28-46, February.
    39. Niels Arne Dam & Jesper Gregers Linaa, 2005. "Assessing the Welfare Cost of a Fixed Exchange-Rate Policy," EPRU Working Paper Series 05-04, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    40. Annicchiarico, Barbara & Rossi, Lorenza, 2013. "Optimal monetary policy in a New Keynesian model with endogenous growth," Journal of Macroeconomics, Elsevier, vol. 38(PB), pages 274-285.
    41. Ruoyun Mao & Wenyi Shen & Shu-Chun S. Yang, 2022. "Uncertain Policy Regimes and Government Spending Effects," IEAS Working Paper : academic research 22-A004, Institute of Economics, Academia Sinica, Taipei, Taiwan.
    42. Annicchiarico, Barbara & Di Dio, Fabio, 2015. "Environmental policy and macroeconomic dynamics in a new Keynesian model," Journal of Environmental Economics and Management, Elsevier, vol. 69(C), pages 1-21.
    43. García, Carlos J. & González, Wildo D., 2013. "Exchange rate intervention in small open economies: The role of risk premium and commodity price shocks," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 424-447.
    44. Andrew T. Levin & Alexei Onatski & John C. Williams & Noah Williams, 2005. "Monetary Policy Under Uncertainty in Micro-Founded Macroeconometric Models," NBER Working Papers 11523, National Bureau of Economic Research, Inc.
    45. NANA DAVIES, Charles, 2020. "Land Collateral and Rule-of-Thumb Households in a Franc Zone Country: A Bayesian Appraisal," MPRA Paper 100000, University Library of Munich, Germany.
    46. Faia, Ester, 2009. "Ramsey monetary policy with labor market frictions," Journal of Monetary Economics, Elsevier, vol. 56(4), pages 570-581, May.
    47. Federico Ravenna & Fabio M. Natalucci, 2008. "Monetary Policy Choices in Emerging Market Economies: The Case of High Productivity Growth," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(2-3), pages 243-271, March.
    48. Patrizio Tirelli & Maria Ferrara, 2020. "Disinflation, Inequality, And Welfare In A Tank Model," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1297-1313, July.
    49. Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2013. "Is There a Trade-Off between Inflation and Output Stabilization?," American Economic Journal: Macroeconomics, American Economic Association, vol. 5(2), pages 1-31, April.
    50. Alba, Joseph D. & Liu, Jingting & Chia, Wai-Mun & Park, Donghyun, 2020. "Foreign output shock in small open economies: A welfare evaluation of monetary policy regimes," Economic Modelling, Elsevier, vol. 86(C), pages 101-116.
    51. Jesús A. Bejarano & Luisa F. Charry, 2014. "Financial Frictions and Optimal Monetary Policy in a Small Open Economy," Borradores de Economia 12316, Banco de la Republica.
    52. Giorgio Motta & Patrizio Tirelli, 2010. "Rule-of-thumb Consumers, Consumption Habits and the Taylor Principle," Working Papers 194, University of Milano-Bicocca, Department of Economics, revised Jul 2010.
    53. Markus Hoermann & Andreas Schabert, 2011. "When is Quantitative Easing effective?," Tinbergen Institute Discussion Papers 11-001/2/DSF 6, Tinbergen Institute.
    54. Anton Nakov, 2008. "Optimal and Simple Monetary Policy Rules with Zero Floor on the Nominal Interest Rate," International Journal of Central Banking, International Journal of Central Banking, vol. 4(2), pages 73-127, June.
    55. Carlos De Resende & Nooman Rebei, 2008. "The Welfare Implications of Fiscal Dominance," Staff Working Papers 08-28, Bank of Canada.
    56. Andrea Colciago, 2006. "Sticky wages and rule of thumb consumers," Working Papers 98, University of Milano-Bicocca, Department of Economics, revised Sep 2006.
    57. Shu-Chun S. Yang & Nora Traum, 2011. "When Does Government Debt Crowd Out Investment?," 2011 Meeting Papers 479, Society for Economic Dynamics.
    58. Arnoud Stevens, 2015. "Optimal monetary policy response to endogenous oil price fluctuations," Working Paper Research 277, National Bank of Belgium.
    59. Ester Faia & Tommaso Monacelli, 2005. "Optimal Monetary Policy Rules, Asset Prices and Credit Frictions," Working Papers 279, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    60. Fabio Milani, 2005. "Expectations, Learning and Macroeconomic Persistence," Macroeconomics 0510022, University Library of Munich, Germany.
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    62. Schmitt-Grohé, Stephanie & Uribe, Martín, 2006. "Optimal fiscal and monetary policy in a medium-scale macroeconomic model," Working Paper Series 612, European Central Bank.
    63. L. Marattin & M. Marzo & P. Zagaglia, 2010. "A welfare perspective on the fiscal-monetary policy mix: The role of alternative fiscal instruments," Working Papers wp720, Dipartimento Scienze Economiche, Universita' di Bologna.
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    65. Günter Coenen & Giovanni Lombardo & Frank Smets & Roland Straub, 2007. "International Transmission and Monetary Policy Cooperation," NBER Chapters, in: International Dimensions of Monetary Policy, pages 157-192, National Bureau of Economic Research, Inc.
    66. Faia, Ester, 2009. "Oligopolistic competition and optimal monetary policy," Kiel Working Papers 1552, Kiel Institute for the World Economy (IfW Kiel).
    67. Gisle James Natvik, 2012. "Government Spending Shocks and Rule-of-Thumb Consumers with Steady-State Inequality," Scandinavian Journal of Economics, Wiley Blackwell, vol. 114(4), pages 1414-1436, December.
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    71. Federico di Pace, 2008. "Revisiting the Comovement Puzzle: the Input-Output Structure as an Additional Solution," Birkbeck Working Papers in Economics and Finance 0807, Birkbeck, Department of Economics, Mathematics & Statistics.
    72. Guido Ascari & Tiziano Ropele, 2010. "Sacrifice ratio or welfare gain ratio? Disinflation in a DSGE monetary model," Temi di discussione (Economic working papers) 736, Bank of Italy, Economic Research and International Relations Area.
    73. Stefano Grassi & Marco Lorusso & Francesco Ravazzolo, 2021. "Adaptive Importance Sampling for DSGE Models," BEMPS - Bozen Economics & Management Paper Series BEMPS84, Faculty of Economics and Management at the Free University of Bozen.
    74. Stephanie Schmitt-Grohé & Martín Uribe, 2004. "The Research Agenda: Stephanie Schmitt-Grohé and Martín Uribe on Policy Evaluation in Macroeconomics," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 6(1), November.
    75. Mariusz Górajski & Zbigniew Kuchta, 2022. "Which hallmarks of optimal monetary policy rules matter in Poland? A stochastic dominance approach," Bank i Kredyt, Narodowy Bank Polski, vol. 53(2), pages 149-182.
    76. Firouzi Naeim, Peyman & Rahimzadeh, golnoush, 2013. "Inflation Skewness and Price Indexation," MPRA Paper 45968, University Library of Munich, Germany.
    77. Guerron-Quintana, Pablo A., 2009. "Money demand heterogeneity and the great moderation," Journal of Monetary Economics, Elsevier, vol. 56(2), pages 255-266, March.
    78. Dmitriev, Alexandre & Roberts, Ivan, 2013. "The cost of adjustment: On comovement between the trade balance and the terms of trade," Economic Modelling, Elsevier, vol. 35(C), pages 689-700.
    79. Górajski Mariusz & Kuchta Zbigniew, 2018. "Measuring Uncertainty of Optimal Simple Monetary Policy Rules in DSGE models," Lodz Economics Working Papers 6/2018, University of Lodz, Faculty of Economics and Sociology.
    80. Guido Ascari & Nicola Branzoli, 2010. "The long-run optimal degree of indexation in new Keynesian models with price staggering à la Calvo," Economics Bulletin, AccessEcon, vol. 30(1), pages 482-493.
    81. El Ferktaji, Riadh & Mihoubi, Ferhat, 2009. "Les effets Balassa-Samuelson peuvent-ils expliquer la dynamique de l’économie Tunisienne?," L'Actualité Economique, Société Canadienne de Science Economique, vol. 85(1), pages 77-117, mars.

  43. Morten O. Ravn & Stephanie Schmitt-Grohe & Martin Uribe, 2004. "The Macroeconomics of Subsistence Points," NBER Working Papers 11012, National Bureau of Economic Research, Inc.

    Cited by:

    1. Thomas McGregor, 2019. "Pricing Sovereign Debt in Resource-Rich Economies," IMF Working Papers 2019/240, International Monetary Fund.
    2. Cavallari, Lilia, 2022. "The international real business cycle when demand matters," Journal of Macroeconomics, Elsevier, vol. 73(C).
    3. Paulo Brito & Luís Costa & Huw Dixon, 2010. "Non-Smooth Dynamics and Multiple Equilibria in a Cournt-Ramsey Model with Endogenous Markups," Working Papers Department of Economics 2010/14, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    4. F ve, P. & Matheron, J. & Sahuc, J.G., 2012. "A Pitfall with DSGE-Based, Estimated, Government Spending Multipliers," Working papers 379, Banque de France.
    5. Antony, Jürgen & Klarl, Torben, 2019. "Non-renewable resources, subsistence consumption, and Hartwick's investment rule," Resource and Energy Economics, Elsevier, vol. 55(C), pages 124-142.
    6. Üngör, Murat, 2013. "Some Thought Experiments on the Changes in Labor Supply in Turkey," EY International Congress on Economics I (EYC2013), October 24-25, 2013, Ankara, Turkey 219, Ekonomik Yaklasim Association.
    7. Cavallari, Lilia & Etro, Federico, 2020. "Demand, markups and the business cycle," European Economic Review, Elsevier, vol. 127(C).
    8. Ma, Chang, 2020. "Financial stability, growth and macroprudential policy," Journal of International Economics, Elsevier, vol. 122(C).
    9. Cavallari, Lilia, 2020. "Monetary policy and consumers' demand," Economic Modelling, Elsevier, vol. 92(C), pages 23-36.
    10. Antony, Jürgen & Klarl, Torben, 2023. "Subsistence consumption and natural resource depletion: Can resource-rich low-income countries realize sustainable consumption paths?," Journal of Macroeconomics, Elsevier, vol. 77(C).
    11. Rudolfs Bems & Julian di Giovanni, 2016. "Income-Induced expenditure switching," Economics Working Papers 1534, Department of Economics and Business, Universitat Pompeu Fabra.
    12. Rahul Anand & Eswar S. Prasad, 2010. "Optimal Price Indices for Targeting Inflation Under Incomplete Markets," NBER Working Papers 16290, National Bureau of Economic Research, Inc.
    13. Mohammad R. Jahan-Parvar & Xuan Liu & Philip Rothman, 2013. "Equity Returns and Business Cycles in Small Open Economies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(6), pages 1117-1146, September.
    14. Carlos D Santos & Luís F Costa & Paulo B Brito, 2022. "Demand, Supply and Markup Fluctuations," The Economic Journal, Royal Economic Society, vol. 132(644), pages 1620-1645.
    15. Makoto Nirei & Nao Sudo, 2020. "Necessities, Home Production, and Economic Impacts of Stay-at-Home Policies," IMES Discussion Paper Series 20-E-14, Institute for Monetary and Economic Studies, Bank of Japan.
    16. Li, Qian & Shim, Myungkyu & Wen, Yongheng, 2017. "The implication of subsistence consumption for economic welfare," Economics Letters, Elsevier, vol. 158(C), pages 30-33.
    17. Bokan, Nikola & Hughes Hallett, Andrew, 2007. "The Impact of Tax, Product and Labour Market Distortions on the Phillips Curve and the Natural Rate of Unemployment," Economics Discussion Papers 2007-42, Kiel Institute for the World Economy (IfW Kiel).
    18. Correia, Isabel & Adão, Bernardino, 2010. "Labor Immobility and the Transmission Mechanism of Monetary Policy in a Monetary Union," CEPR Discussion Papers 8068, C.E.P.R. Discussion Papers.
    19. Stefan Baumgärtner & Moritz A. Drupp & Martin F. Quaas, 2017. "Subsistence, Substitutability and Sustainability in Consumption," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(1), pages 47-66, May.
    20. Yu Murayama, 2022. "Human Capital Inequality with Subsistence Consumption," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(3), pages 2127-2137, September.
    21. Antony, Jürgen & Klarl, Torben, 2019. "Resource depletion in a Ramsey economy with subsistence consumption, exogenous technical change and capital depreciation: A full characterization," VfS Annual Conference 2019 (Leipzig): 30 Years after the Fall of the Berlin Wall - Democracy and Market Economy 203640, Verein für Socialpolitik / German Economic Association.
    22. Manipushpak Mitra & Debapriya Sen, 2022. "A microeconomic analysis of subsistence," Indian Economic Review, Springer, vol. 57(2), pages 301-320, December.
    23. Lilia Cavallari & Federico Etro, 2017. "Demand, Markups and the Business Cycle. Bayesian Estimation and Quantitative Analysis in Closed and Open Economies," Working Papers 2017:09, Department of Economics, University of Venice "Ca' Foscari".
    24. Bokan, Nikola & Hughes Hallett, Andrew, 2008. "The Impact of Tax and Market Distortions on the Phillips Curve and the Natural Rate of Unemployment," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 2, pages 1-28.
    25. Jürgen Antony & Torben Klarl, 2019. "Non-Renewable Resources in a Ramsey Economy with Subsistence Consumption, Human and Physical Capital Accumulation: A full Characterization," Bremen Papers on Economics & Innovation 1904, University of Bremen, Faculty of Business Studies and Economics.
    26. Huang, MeiChi, 2012. "Housing deep-habit model: Mutual implications of macroeconomics and asset pricing," Economics Letters, Elsevier, vol. 116(3), pages 526-530.
    27. Stefan Baumgaertner & Moritz A. Drupp & Martin F. Quaas, 2013. "Subsistence and substitutability in consumer preferences," Working Paper Series in Economics 290, University of Lüneburg, Institute of Economics.
    28. Andrew Hughes Hallett, 2010. "Why Do Some Countries Undertake Structural Reforms When Others Do Not? Evidence From The Oecd And Emerging Market Economies," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 1(01), pages 81-103.
    29. Antony, Jürgen & Klarl, Torben, 2022. "Poverty and sustainable development around the world during transition periods," Energy Economics, Elsevier, vol. 110(C).

  44. Uribe, Martín & Schmitt-Grohé, Stephanie, 2004. "Optimal Simple and Implementable Monetary and Fiscal Rules," CEPR Discussion Papers 4334, C.E.P.R. Discussion Papers.

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    1. Guido Ascari & Tiziano Ropele, 2009. "Trend Inflation, Taylor Principle, and Indeterminacy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(8), pages 1557-1584, December.
    2. Jeannine Bailliu & Césaire Meh & Yahong Zhang, 2012. "Macroprudential Rules and Monetary Policy when Financial Frictions Matter," Staff Working Papers 12-6, Bank of Canada.
    3. Croce, M.M. & Nguyen, Thien T. & Raymond, S. & Schmid, L., 2019. "Government debt and the returns to innovation," Journal of Financial Economics, Elsevier, vol. 132(3), pages 205-225.
    4. Di Pace, F. & Faccini, R., 2012. "Deep habits and the cyclical behaviour of equilibrium unemployment and vacancies," Journal of Economic Dynamics and Control, Elsevier, vol. 36(2), pages 183-200.
    5. Jess Benhabib & Stefano Eusepi, 2005. "The design of monetary and fiscal policy: a global perspective," Proceedings, Federal Reserve Bank of San Francisco.
    6. Juin‐Jen Chang & Jhy‐Hwa Chen & Jhy‐Yuan Shieh & Ching‐Chong Lai, 2009. "Optimal Tax Policy, Market Imperfections, and Environmental Externalities in a Dynamic Optimizing Macro Model," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 11(4), pages 623-651, August.
    7. Giovanni Ganelli & Juha Tervala, 2020. "Welfare Multiplier of Public Investment," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(2), pages 390-420, June.
    8. Lopez-Martin, Bernabe & Leal, Julio & Martinez Fritscher, Andre, 2019. "Commodity price risk management and fiscal policy in a sovereign default model," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 304-323.
    9. Cantelmo, Alessandro & Melina, Giovanni, 2023. "Sectoral labor mobility and optimal monetary policy," Macroeconomic Dynamics, Cambridge University Press, vol. 27(1), pages 1-26, January.
    10. Carrillo, Julio A. & Mendoza, Enrique G. & Nuguer, Victoria & Roldán-Peña, Jessica, 2018. "Tight money - tight credit: coordination failure in the conduct of monetary and financial policies," Working Paper Series 2129, European Central Bank.
    11. Faia, Ester, 2006. "Optimal monetary policy rules with labor market frictions," Working Paper Series 698, European Central Bank.
    12. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2015. "Optimal fiscal and monetary policy action in a closed economy," Economic Modelling, Elsevier, vol. 48(C), pages 175-188.
    13. Huang, Kevin X.D. & Meng, Qinglai & Xue, Jianpo, 2009. "Is forward-looking inflation targeting destabilizing? The role of policy's response to current output under endogenous investment," Journal of Economic Dynamics and Control, Elsevier, vol. 33(2), pages 409-430, February.
    14. Euiyoung Jung, 2021. "On the design of labor market programs as stabilization policies," PSE Working Papers halshs-03243698, HAL.
    15. Wieland, Volker & Wolters, Maik, 2013. "Forecasting and Policy Making," Handbook of Economic Forecasting, in: G. Elliott & C. Granger & A. Timmermann (ed.), Handbook of Economic Forecasting, edition 1, volume 2, chapter 0, pages 239-325, Elsevier.
    16. Berndt, Antje & Yeltekin, Şevin, 2015. "Monetary policy, bond returns and debt dynamics," Journal of Monetary Economics, Elsevier, vol. 73(C), pages 119-136.
    17. Filiz Unsal & Margarita Rubio, 2016. "Macroprudential Policies in Low-Income Countries," 2016 Meeting Papers 1230, Society for Economic Dynamics.
    18. Murray, James, 2014. "Fiscal Policy Uncertainty and Its Macroeconomic Consequences," MPRA Paper 57409, University Library of Munich, Germany.
    19. Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," CFS Working Paper Series 2004/13, Center for Financial Studies (CFS).
    20. Christoph Priesmeier & Nikolai Stähler, 2011. "Long Dark Shadows Or Innovative Spirits? The Effects Of (Smoothing) Business Cycles On Economic Growth: A Survey Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 25(5), pages 898-912, December.
    21. Ganelli, Giovanni & Tervala, Juha, 2015. "Value of WTO trade agreements in a New Keynesian model," Journal of Macroeconomics, Elsevier, vol. 45(C), pages 347-362.
    22. Angelopoulos, Konstantinos & Malley, James, 2008. "Tax Structure, Growth and Welfare in the UK," SIRE Discussion Papers 2008-18, Scottish Institute for Research in Economics (SIRE).
    23. Daisuke Ikeda & Takushi Kurozumi, 2014. "Post-Crisis Slow Recovery and Monetary Policy," Working Papers e088, Tokyo Center for Economic Research.
    24. Andrés González & Franz Hamann, 2011. "Lack of Credibility, Inflation Persistence and Disinflation in Colombia," Borradores de Economia 658, Banco de la Republica de Colombia.
    25. Benigno, Pierpaolo & Woodford, Michael, 2012. "Linear-quadratic approximation of optimal policy problems," Journal of Economic Theory, Elsevier, vol. 147(1), pages 1-42.
    26. Schön, Matthias & Stähler, Nikolai, 2020. "When old meets young? Germany's population ageing and the current account," Economic Modelling, Elsevier, vol. 89(C), pages 315-336.
    27. Gülçin Özkan & Ms. Filiz D Unsal, 2014. "On the use of Monetary and Macroprudential Policies for Small Open Economies," IMF Working Papers 2014/112, International Monetary Fund.
    28. Levine, Paul & McAdam, Peter & Pearlman, Joseph, 2012. "Probability models and robust policy rules," European Economic Review, Elsevier, vol. 56(2), pages 246-262.
    29. Jean-Olivier Hairault & François Langot, 2010. "Markups and the Welfare Cost of Business Cycles : A Reappraisal," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00492204, HAL.
    30. Troy Davig & Andrew T. Foerster, 2017. "Communicating Monetary Policy Rules," Research Working Paper RWP 17-4, Federal Reserve Bank of Kansas City.
    31. Hebous, Shafik, 2009. "The Effects of Discretionary Fiscal Policy on Macroeconomic Aggregates: A Reappraisal," MPRA Paper 23300, University Library of Munich, Germany, revised Jun 2010.
    32. Tatiana Kirsanova & Campbell Leith & Simon Wren‐Lewis, 2009. "Monetary and Fiscal Policy Interaction: The Current Consensus Assignment in the Light of Recent Developments," Economic Journal, Royal Economic Society, vol. 119(541), pages 482-496, November.
    33. Davide Debortoli & Jinill Kim & Jesper Linde & Ricardo Nunes, 2016. "Designing a Simple Loss Function for the Fed: Does the Dual Mandate Make Sense?," Discussion Paper Series 1601, Institute of Economic Research, Korea University.
    34. Dimitris Christopoulos & Miguel A. León-Ledesma, 2009. "On causal Relationships Between Exchange Rates and Fundamentals: Better Than You Think," Studies in Economics 0909, School of Economics, University of Kent.
    35. EO, Yunjong & LIE, Denny, 2017. "The Role of Inflation Target Adjustment in Stabilization Policy," Discussion paper series HIAS-E-58, Hitotsubashi Institute for Advanced Study, Hitotsubashi University.
    36. Stefan Hohberger & Lukas Vogel & Bernhard Herz, 2015. "The sectoral reallocation of government purchases as budgetary-neutral stabilisation tool: a model-based analysis," International Economics and Economic Policy, Springer, vol. 12(1), pages 59-74, March.
    37. Adam, Klaus & Billi, Roberto M., 2006. "Monetary conservatism and fiscal policy," Working Paper Series 663, European Central Bank.
    38. Szabolcs Deák & Paul Levine & Afrasiab Mirza & Joseph Pearlman, 2019. "Designing Robust Monetary Policy Using Prediction Pools," School of Economics Discussion Papers 1219, School of Economics, University of Surrey.
    39. Corsetti, Giancarlo & Bergin, Paul R, 2015. "Beyond Competitive Devaluations: The Monetary Dimensions of Comparative Advantage," CEPR Discussion Papers 10718, C.E.P.R. Discussion Papers.
    40. Mr. Enrique G. Mendoza & Javier Bianchi, 2011. "Overborrowing, Financial Crises and ‘Macro-prudential’ Policy," IMF Working Papers 2011/024, International Monetary Fund.
    41. Mendicino, Caterina & Nikolov, Kalin & Suarez, Javier & Supera, Dominik, 2020. "Bank capital in the short and in the long run," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 64-79.
    42. Díaz-Kovalenko, Igor E. & Torres, José L., 2022. "Oil price shocks, government revenues and public investment: The case of Ecuador," MPRA Paper 112268, University Library of Munich, Germany, revised 07 Mar 2022.
    43. Lien Laureys & Roland Meeks & Boromeus Wanengkirtyo, 2020. "Optimal simple objectives for monetary policy when banks matter," CAMA Working Papers 2020-98, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    44. Stelios Sakkas & Petros Varthalitis, 2021. "Public Debt Consolidation and its Distributional Effects," Manchester School, University of Manchester, vol. 89(S1), pages 131-174, September.
    45. Dominic Quint & Pau Rabanal, 2014. "Monetary and Macroprudential Policy in an Estimated DSGE Model of the Euro Area," International Journal of Central Banking, International Journal of Central Banking, vol. 10(2), pages 169-236, June.
    46. Sylvain Leduc & Jean†Marc Natal, 2018. "Monetary and Macroprudential Policies in a Leveraged Economy," Economic Journal, Royal Economic Society, vol. 128(609), pages 797-826, March.
    47. Mohamed Tahar Benkhodja, 2011. "Monetary Policy and the Dutch Disease in a Small Open Oil Exporting Economy," Post-Print halshs-00658287, HAL.
    48. Guido Ascari & Lorenza Rossi, 2010. "Real Wage Rigidities and Disinflation Dynamics: Calvo vs. Rotemberg Pricing," Quaderni di Dipartimento 116, University of Pavia, Department of Economics and Quantitative Methods.
    49. Vidal, Jean-Pierre & Fernández-Huertas Moraga, Jesús, 2004. "Fiscal sustainability and public debt in an endogenous growth model," Working Paper Series 395, European Central Bank.
    50. Mr. Andrew Berg & Mr. Rafael A Portillo & Luis-Felipe Zanna, 2014. "Policy Responses to Aid Surges in Countries with Limited International Capital Mobility: The Role of the Exchange Rate Regime," IMF Working Papers 2014/018, International Monetary Fund.
    51. Brei, Michael & Buzaushina, Almira, 2015. "International financial shocks in emerging markets," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 51-74.
    52. Jason Choi & Andrew T. Foerster, 2016. "Optimal monetary policy regime switches," Research Working Paper RWP 16-7, Federal Reserve Bank of Kansas City.
    53. Federico Lubello & Abdelaziz Rouabah, 2019. "Capturing macroprudential regulation effectiveness: a DSGE approach with shadow intermediaries," Revista de Estabilidad Financiera, Banco de España, issue Otoño.
    54. Krzysztof Makarski, 2017. "Mnożniki fiskalne w modelu z ograniczeniami kredytowymi," GRAPE Working Papers 13, GRAPE Group for Research in Applied Economics.
    55. Jan Zacek, 2016. "Financial Variables in a Policy Rule: Does It Bring Macroeconomic Benefits?," Working Papers IES 2016/25, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Dec 2016.
    56. Gadatsch Niklas & Hollmayr Josef & Stähler Nikolai, 2019. "Thoughts on a Fiscal Union in EMU," German Economic Review, De Gruyter, vol. 20(4), pages 360-384, December.
    57. Stephanie Schmitt-Grohe & Martin Uribe, 2007. "Optimal simple and implementable monetary and fiscal rules," FRB Atlanta Working Paper 2007-24, Federal Reserve Bank of Atlanta.
    58. Leung, Charles Ka Yui & Teo, Wing Leong, 2010. "Should the optimal portfolio be region-specific? A multi-region model with monetary policy and asset price co-movements," MPRA Paper 28216, University Library of Munich, Germany.
    59. Tatiana Damjanovic & Vladislav Damjanovic & Charles Nolan, 2011. "Ordering policy rules with an unconditional welfare measure," Working Papers 2011_15, Business School - Economics, University of Glasgow.
    60. Goyal, Ashima & Verma, Akhilesh K, 2023. "Cross border flows, financial intermediation and interactions of policy rules in a small open economy," The Quarterly Review of Economics and Finance, Elsevier, vol. 89(C), pages 369-393.
    61. Ferrero, Andrea, 2009. "Fiscal and monetary rules for a currency union," Journal of International Economics, Elsevier, vol. 77(1), pages 1-10, February.
    62. Tatiana Kirsanova & Mathan Satchi & David Vines & Simon Wren‐Lewis, 2007. "Optimal Fiscal Policy Rules in a Monetary Union," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1759-1784, October.
    63. Luigi MARATTIN & Massimiliano MARZO & Paolo ZAGAGLIA, 2010. "Distortionary Tax Instruments and Implementable Monetary Policy," EcoMod2010 259600110, EcoMod.
    64. Guido Ascari & Efrem Castelnuovo & Lorenza Rossi, 2010. "Calvo vs. Rotemberg in a Trend Inflation World: An Empirical Investigation," "Marco Fanno" Working Papers 0116, Dipartimento di Scienze Economiche "Marco Fanno".
    65. Naohisa Hirakata & Nao Sudo & Kozo Ueda, 2011. "Capital Injection, Monetary Policy, and Financial Accelerators," IMES Discussion Paper Series 11-E-10, Institute for Monetary and Economic Studies, Bank of Japan.
    66. Angela Abbate & Dominik Thaler, 2018. "Monetary policy and the asset risk-taking channel," Working Papers 1805, Banco de España.
    67. Kitano, Shigeto, 2011. "Capital controls and welfare," Journal of Macroeconomics, Elsevier, vol. 33(4), pages 700-710.
    68. Ascari, Guido & Merkl, Christian, 2007. "Real Wage Rigidities and the Cost of Disinflations," IZA Discussion Papers 3049, Institute of Labor Economics (IZA).
    69. Alfred Duncan & Charles Nola, 2017. "Disputes , Debt And Equity," Working Papers 2017_08, Business School - Economics, University of Glasgow.
    70. Funke, Michael & Wende, Adrian, 2022. "Modeling semiconductor export restrictions and the US-China trade conflict," BOFIT Discussion Papers 13/2022, Bank of Finland Institute for Emerging Economies (BOFIT).
    71. Adam, Klaus & Billi, Roberto M., 2007. "Discretionary monetary policy and the zero lower bound on nominal interest rates," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 728-752, April.
    72. Barnett, William A. & Wang, Chan & Wang, Xue & Wu, Liyuan, 2018. "What inflation measure should a currency union target?," MPRA Paper 87035, University Library of Munich, Germany.
    73. Nathaniel Throckmorton & Benjamin Keen & Alexander Richter & William Gavin, 2013. "Global Dynamics at the Zero Lower Bound," 2013 Meeting Papers 839, Society for Economic Dynamics.
    74. Marcela Meirelles Aurelio, 2006. "Targeting inflation and the fiscal balance : what is the optimal policy mix?," Research Working Paper RWP 06-07, Federal Reserve Bank of Kansas City.
    75. Sylvain Leduc & Keith Sill, 2003. "Monetary policy, oil shocks, and TFP: accounting for the decline in U.S. volatility," Working Papers 03-22, Federal Reserve Bank of Philadelphia.
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    81. Rahul Anand & Mr. Eswar S Prasad & Boyang Zhang, 2015. "What Measure of Inflation Should a Developing Country Central Bank Target?," IMF Working Papers 2015/205, International Monetary Fund.
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    87. Iania, Leonardo & Tretiakov, Pavel & Wouters, Rafael, 2023. "The risk premium in New Keynesian DSGE models: The cost of inflation channel," LIDAM Reprints LFIN 2023013, Université catholique de Louvain, Louvain Finance (LFIN).
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    46. Andrea Colciago & Federico Etro, 2007. "Real Business Cycles with Cournot Competition and Endogenous Entry," Working Papers 135, University of Milano-Bicocca, Department of Economics, revised Feb 2008.
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    Cited by:

    1. Miss Zhanwei Z. Yue & Mr. Samir Jahjah, 2004. "Exchange Rate Policy and Sovereign Bond Spreads in Developing Countries," IMF Working Papers 2004/210, International Monetary Fund.
    2. Takeuchi, Fumihide, 2011. "The role of production fragmentation in international business cycle synchronization in East Asia," Journal of Asian Economics, Elsevier, vol. 22(6), pages 441-459.
    3. Ms. Garima Vasishtha & Mr. Taimur Baig & Mr. Manmohan S. Kumar & Ms. Edda Zoli, 2006. "Fiscal and Monetary Nexus in Emerging Market Economies: How Does Debt Matter?," IMF Working Papers 2006/184, International Monetary Fund.
    4. Ivan Tchakarov & Selim Elekdag, 2006. "The role of interest rates in business cycle fluctuations in emerging countries: the case of Thailand," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 13(1), pages 53-73, June.
    5. Vivian Z. Yue, 2005. "Sovereign Default and Debt Renegotiation," 2005 Meeting Papers 138, Society for Economic Dynamics.
    6. Coşkun, Sevgi, 2022. "Informal employment and business cycles in emerging market economies," Journal of Macroeconomics, Elsevier, vol. 74(C).
    7. Barrail, Zulma, 2020. "Business cycle implications of rising household credit market participation in emerging countries," Journal of Economic Dynamics and Control, Elsevier, vol. 116(C).
    8. Díaz-Bonilla, Eugenio, 2008. "Global macroeconomic developments and poverty," IFPRI discussion papers 766, International Food Policy Research Institute (IFPRI).

  49. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2003. "Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability," Working Papers 03-4, Federal Reserve Bank of Philadelphia.

    Cited by:

    1. Jess Benhabib & Stefano Eusepi, 2005. "The design of monetary and fiscal policy: a global perspective," Proceedings, Federal Reserve Bank of San Francisco.
    2. Marco Ratto, 2008. "Analysing DSGE Models with Global Sensitivity Analysis," Computational Economics, Springer;Society for Computational Economics, vol. 31(2), pages 115-139, March.
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    4. James Bullard & Kaushik Mitra, 2007. "Determinacy, Learnability, and Monetary Policy Inertia," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(5), pages 1177-1212, August.
    5. Hippolyte d'Albis & Emmanuelle Augeraud-Véron & Hermen Jan Hupkes, 2014. "Bounded interest rate feedback rules in continuous-time," Post-Print hal-01015388, HAL.
    6. Brito Paulo & Marini Giancarlo & Piergallini Alessandro, 2016. "House prices and monetary policy," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 20(3), pages 251-277, June.
    7. Weder, Mark, 2003. "Taylor Rules and Macroeconomic Instability or How the Central Bank Can Pre-empt Sunspot Expectations," SFB 373 Discussion Papers 2003,49, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
    8. Eusepi, Stefano, 2007. "Learnability and monetary policy: A global perspective," Journal of Monetary Economics, Elsevier, vol. 54(4), pages 1115-1131, May.
    9. Jean-Bernard Chatelain & Kirsten Ralf, 2020. "Policy Maker's Credibility with Predetermined Instruments for Forward-Looking Targets," Papers 2012.02806, arXiv.org.
    10. Chen, Shu-hua & Shaw, Ming-fu & Lai, Ching-chong & Chang, Juin-jen, 2008. "Interest-rate rules and transitional dynamics in an endogenously growing open economy," Journal of International Money and Finance, Elsevier, vol. 27(1), pages 54-75, February.
    11. Robert Dittmar & William T. Gavin, 2004. "Inflation-targeting, price-path targeting and indeterminacy," Working Papers 2004-007, Federal Reserve Bank of St. Louis.
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    Cited by:

    1. Bianchi, Javier, 2009. "Overborrowing and Systemic Externalities in the Business Cycle," MPRA Paper 16270, University Library of Munich, Germany.
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    5. Albonico, Alice & Calès, Ludovic & Cardani, Roberta & Croitorov, Olga & Ferroni, Filippo & Giovannini, Massimo & Hohberger, Stefan & Pataracchia, Beatrice & Pericoli, Filippo & Raciborski, Rafal & Rat, 2017. "The Global Multi-Country Model (GM): an Estimated DSGE Model for the Euro Area Countries," JRC Working Papers in Economics and Finance 2017-10, Joint Research Centre, European Commission.
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    1065. Santiago Camara, 2022. "TANK meets Diaz-Alejandro: Household heterogeneity, non-homothetic preferences & policy design," Papers 2201.02916, arXiv.org.
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    58. Sergey Pekarski & Anna Sokolova, 2021. "Default Costs and Self-fulfilling Fiscal Limits in a Small Open Economy," HSE Working papers WP BRP 243/EC/2021, National Research University Higher School of Economics.
    59. André, Marine C. & Armijo, Alberto & Espidio, Sebastián Medina & Sandoval, Jamel, 2023. "Policy mix in a small open emerging economy with commodity prices," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(1).
    60. Dimitris Papageorgiou, 2014. "BoGGEM: a dynamic stochastic general equilibrium model for policy simulations," Working Papers 182, Bank of Greece.
    61. Jeanne, O., 2012. "Fiscal challenges to monetary dominance in the euro area: a theoretical perspective," Financial Stability Review, Banque de France, issue 16, pages 143-150, April.
    62. Andreas Schabert, 2009. "Monetary Policy under a Fiscal Theory of Sovereign Default," Tinbergen Institute Discussion Papers 09-093/2, Tinbergen Institute.
    63. Maurício Yoshinori Une & Marcelo Savino Portugal, 2005. "Fear of disruption: a model of Markov-switching regimes for the Brazilian country risk conditional volatility," Econometrics 0509005, University Library of Munich, Germany.
    64. Bi, Huixin, 2012. "Sovereign default risk premia, fiscal limits, and fiscal policy," European Economic Review, Elsevier, vol. 56(3), pages 389-410.
    65. Kazumasa Oguro & Motohiro Sato, 2014. "Public debt accumulation and fiscal consolidation," Applied Economics, Taylor & Francis Journals, vol. 46(7), pages 663-673, March.
    66. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
    67. Wright, Allan & Ramirez, Francisco A., 2017. "What are the Fiscal Limits for the Developing Economies of Central America and the Caribbean?," IDB Publications (Working Papers) 8269, Inter-American Development Bank.
    68. Lorenzoni, Guido, 2014. "International Financial Crises," Handbook of International Economics, in: Gopinath, G. & Helpman, . & Rogoff, K. (ed.), Handbook of International Economics, edition 1, volume 4, chapter 0, pages 689-740, Elsevier.
    69. Daniel Fried, 2017. "Inflation, Default, and the Currency Composition of Sovereign Debt in Emerging Economies: Working Paper 2017-01," Working Papers 52385, Congressional Budget Office.
    70. Kazuki Hiraga, 2012. "Measuring the Tax Revenue Elasticity to Output in Dynamic Stochastic General Equilibrium Model," Keio/Kyoto Joint Global COE Discussion Paper Series 2012-010, Keio/Kyoto Joint Global COE Program.
    71. Ludwig, Maximilian, 2014. "How well do we understand sovereign debt crisis? Evidence from Latin America," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100531, Verein für Socialpolitik / German Economic Association.
    72. Moises S. Andrade & Tiago Berriel, 2016. "Is There an Output Free Lunch for Fiscal Inationary Policies?," Textos para discussão 650, Department of Economics PUC-Rio (Brazil).
    73. Wolf, Martin & Müller, Gernot & Kriwoluzky, Alexander, 2013. "Currency Risk in Currency Unions," CEPR Discussion Papers 9635, C.E.P.R. Discussion Papers.

  52. Uribe, Martín & Schmitt-Grohé, Stephanie, 2002. "Anticipated Ramsey Reforms and the Uniform Taxation Principle: The Role of International Financial Markets," CEPR Discussion Papers 3438, C.E.P.R. Discussion Papers.

    Cited by:

    1. Alexandre Cunha, 2004. "The Friedman Rule in a Two Sector Small Open Economy," Econometric Society 2004 North American Summer Meetings 530, Econometric Society.
    2. Alexandre Cunha, 2008. "The optimality of the Friedman rule when some distorting taxes are exogenous," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(2), pages 267-291, May.
    3. Senay, Ozge & Sutherland, Alan, 2013. "The Timing Of Asset Trade And Optimal Policy In Dynamic Open Economies," Macroeconomic Dynamics, Cambridge University Press, vol. 17(8), pages 1543-1573, December.
    4. Monacelli, Tommas & Faia, Ester, 2004. "Ramsey Monetary Policy and International Relative Prices," CEPR Discussion Papers 4386, C.E.P.R. Discussion Papers.
    5. David M. Arseneau, 2004. "Expectation traps in a New Keynesian open economy model," Finance and Economics Discussion Series 2004-45, Board of Governors of the Federal Reserve System (U.S.).
    6. Florina-Cristina Badarau & Florence Huart & Ibrahima Sangaré, 2013. "Indebtedness and macroeconomic imbalances in a monetary-union DSGE model," Working Papers hal-00996622, HAL.
    7. Liu, Xuan, 2013. "Time consistency of optimal monetary and fiscal policy in a small open economy," Journal of International Money and Finance, Elsevier, vol. 36(C), pages 47-67.
    8. Ana Aguilar & Carlos Cantú & Claudia Ramírez, 2022. "It takes two: Fiscal and monetary policy in Mexico," BIS Working Papers 1012, Bank for International Settlements.
    9. Cristina Badarau & Florence Huart & Ibrahima Sangaré, 2021. "Households saving and financial spillovers in the Euro area," Bulletin of Economic Research, Wiley Blackwell, vol. 73(4), pages 660-687, October.
    10. Ho Wai-Ming, 2020. "Liquidity constraints, international trade, and optimal monetary policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(2), pages 1-29, June.
    11. Liu, X, 2010. "Is Optimal Monetary and Fiscal Policy in a Small Open Economy Time Consistent?," MPRA Paper 28781, University Library of Munich, Germany.
    12. Ruy Lama & Juan Pablo Medina, 2004. "Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices," Working Papers Central Bank of Chile 286, Central Bank of Chile.
    13. Cristina Badarau & Florence Huart & Ibrahima Sangaré, 2014. "Sovereign Risk Premium and Divergent Fiscal Policies in a Monetary Union," Revue d'économie politique, Dalloz, vol. 124(6), pages 867-898.
    14. Angelo Marsiglia Fasolo, 2014. "The Ramsey Steady State under Optimal Monetary and Fiscal Policy for Small Open Economies," Working Papers Series 357, Central Bank of Brazil, Research Department.
    15. Zixi Liu, 2015. "Do debt and growth dance together? A DSGE model of a small open economy with sovereign debt," Working Papers 2015.05, International Network for Economic Research - INFER.

  53. Uribe, Martín & Schmitt-Grohé, Stephanie, 2001. "Optimal Fiscal and Monetary Policy Under Sticky Prices," CEPR Discussion Papers 2942, C.E.P.R. Discussion Papers.

    Cited by:

    1. Tatiana Kirsanova & Campbell Leith & Ding Liu, 2024. "Central Bank Independence, Government Debt and the Re-Normalization of Interest Rates," Working Papers 2024_10, Business School - Economics, University of Glasgow.
    2. Kohlscheen, E. & O’Connell, S. A., 2007. "Trade Credit, International Reserves and Sovereign Debt," The Warwick Economics Research Paper Series (TWERPS) 833, University of Warwick, Department of Economics.
    3. Kejak, Michal & Gillman, Max & Benk, Szilárd, 2009. "A Banking Explanation of the US Velocity of Money: 1919-2004," CEPR Discussion Papers 7544, C.E.P.R. Discussion Papers.
    4. Alberto Petrucci, 2015. "Deviating from the Friedman Rule: A Good Idea with Illegal Immigration?," Working Papers CELEG 1502, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    5. Boris Chafwehé & Charles de Beauffort & Rigas Oikonomou, 2022. "Optimal Monetary Policy Rules in the Fiscal Theory of the Price Level," LIDAM Discussion Papers IRES 2022007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    6. Ester Faia & Tommaso Monacelli, 2008. "Optimal Monetary Policy in a Small Open Economy with Home Bias," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(4), pages 721-750, June.
    7. Narayana R. Kocherlakota, 2005. "Optimal monetary policy: what we know and what we don’t know," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 29(Oct), pages 10-19.
    8. Pietro Cova & Patrizio Pagano & Massimiliano Pisani, 2019. "Domestic and International Effects of the Eurosystem Expanded Asset Purchase Programme: A Structural Model-Based Analysis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 67(2), pages 315-348, June.
    9. Matthew Hoelle, 2014. "Quantitative Easing under Incomplete Markets: Optimality Conditions for Stationary Policy," Purdue University Economics Working Papers 1277, Purdue University, Department of Economics.
    10. Leeper, Eric M. & Leith, Campbell & Liu, Ding, 2021. "Optimal Time-Consistent Monetary, Fiscal and Debt Maturity Policy," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 600-617.
    11. Adam, Klaus & Billi, Roberto M., 2004. "Optimal monetary policy under commitment with a zero bound on nominal interest rates," CFS Working Paper Series 2004/13, Center for Financial Studies (CFS).
    12. Paustian, Matthias & Stoltenberg, Christian, 2008. "Optimal interest rate stabilization in a basic sticky-price model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(10), pages 3166-3191, October.
    13. Collard, Fabrice & Dellas, Harris, 2006. "The case for inflation stability," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 1801-1814, November.
    14. Mankiw, N. Gregory & Reis, Ricardo, 2002. "Sticky Information Versus Sticky Prices: A Proposal to Replace the New Keynesian Phillips Curve," Scholarly Articles 3415324, Harvard University Department of Economics.
    15. Stephane Auray & Paul Gomme & Shen Guo, 2011. "Nominal Rigidities, Monetary Policy and Pigou Cycles," Working Papers 11007, Concordia University, Department of Economics, revised Nov 2011.
    16. Benigno, Pierpaolo & Woodford, Michael, 2012. "Linear-quadratic approximation of optimal policy problems," Journal of Economic Theory, Elsevier, vol. 147(1), pages 1-42.
    17. Marcet, Albert & Scott, Andrew & Faraglia, Elisa & Oikonomou, Rigas, 2014. "Government Debt Management: The Long and the Short of It," CEPR Discussion Papers 10281, C.E.P.R. Discussion Papers.
    18. Mr. Evan C Tanner & Mr. Kevin J Carey, 2005. "The Perils of Tax Smoothing: Sustainable Fiscal Policy with Random Shocks to Permanent Output," IMF Working Papers 2005/207, International Monetary Fund.
    19. Vlieghe, Gertjan, 2010. "Imperfect credit markets: implications for monetary policy," Bank of England working papers 385, Bank of England.
    20. Adam, Klaus & Billi, Roberto M., 2013. "Distortionary Fiscal Policy and Monetary Policy Goals," Working Paper Series 278, Sveriges Riksbank (Central Bank of Sweden).
    21. Leith, Campbell & Liu, Ding, 2016. "The inflation bias under Calvo and Rotemberg pricing," Journal of Economic Dynamics and Control, Elsevier, vol. 73(C), pages 283-297.
    22. Tatiana Kirsanova & Campbell Leith & Simon Wren‐Lewis, 2009. "Monetary and Fiscal Policy Interaction: The Current Consensus Assignment in the Light of Recent Developments," Economic Journal, Royal Economic Society, vol. 119(541), pages 482-496, November.
    23. Szabolcs Deák & Lionel Fontagné & Marco Maffezzoli & Massimiliano Marcellino, 2012. "The banking and distribution sectors in a small open economy DSGE Model," Working Papers 454, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    24. Adam, Klaus & Billi, Roberto M., 2006. "Monetary conservatism and fiscal policy," Working Paper Series 663, European Central Bank.
    25. Chafwehé, Boris & Oikonomou, Rigas & Priftis, Romanos & Vogel, Lukas, 2023. "Optimal Monetary Policy with and without Debt," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277596, Verein für Socialpolitik / German Economic Association.
    26. Isabel Correia & Juan Pablo Nicolini & Pedro Teles, 2002. "Optimal fiscal and monetary policy: equivalence results," Working Paper Series WP-02-16, Federal Reserve Bank of Chicago.
    27. Massimo Antonini & Kevin Lee & Jacinta Pires, 2013. "Public Sector Debt Dynamics: The Persistence and Sources of Shocks to Debt in 10 EU Countries," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 45(2-3), pages 277-298, March.
    28. Andrew Scott & Elisa Faraglia & Rigas Oikonomou & Albert Marcet, 2015. "Government Debt Management: The Long and the Short of It (Plus Appendix)," Working Papers 799, Barcelona School of Economics.
    29. Gregor W. Smith, 2006. "The Spectre Of Deflation: A Review Of Empirical Evidence," Working Paper 1086, Economics Department, Queen's University.
    30. David Altig & Lawrence Christiano & Martin Eichenbaum & Jesper Linde, 2005. "Online Appendix to "Firm-Specific Capital, Nominal Rigidities and the Business Cycle"," Online Appendices 09-191, Review of Economic Dynamics.
    31. Fernando M. Martin, 2013. "Debt, inflation and central bank independence," Working Papers 2013-017, Federal Reserve Bank of St. Louis.
    32. Kollmann, Robert, 2004. "Welfare-Maximizing Operational Monetary and Tax Policy Rules," CEPR Discussion Papers 4782, C.E.P.R. Discussion Papers.
    33. Jess Benhabib & Mark M. Spiegel, 2009. "Moderate Inflation and the Deflation–Depression Link," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(4), pages 787-798, June.
    34. Jakab, Zoltan & Kumhof, Michael, 2015. "Banks are not intermediaries of loanable funds – and why this matters," Bank of England working papers 529, Bank of England.
    35. Stephanie Schmitt-Grohe & Martin Uribe, 2007. "Optimal simple and implementable monetary and fiscal rules," FRB Atlanta Working Paper 2007-24, Federal Reserve Bank of Atlanta.
    36. Tatiana Damjanovic & Vladislav Damjanovic & Charles Nolan, 2011. "Ordering policy rules with an unconditional welfare measure," Working Papers 2011_15, Business School - Economics, University of Glasgow.
    37. Laxton, Douglas & Pesenti, Paolo & Juillard, Michel & Karam, Philippe, 2006. "Welfare-based monetary policy rules in an estimated DSGE model of the US economy," Working Paper Series 613, European Central Bank.
    38. Christoph Kaufmann, 2016. "Optimal Fiscal Substitutes for the Exchange Rate in a Monetary Union," Working Paper Series in Economics 86, University of Cologne, Department of Economics.
    39. Tatiana Kirsanova & Mathan Satchi & David Vines & Simon Wren‐Lewis, 2007. "Optimal Fiscal Policy Rules in a Monetary Union," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1759-1784, October.
    40. KIM, Jinill & RUGE-MURCIA, Francisco J., 2009. "Monetary Policy When Wages Are Downwardly Rigid : Friedman Meets Tobin," Cahiers de recherche 15-2009, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    41. Damjanovic, Tatiana & Nolan, Charles, 2008. "Seigniorage-maximizing inflation," SIRE Discussion Papers 2008-35, Scottish Institute for Research in Economics (SIRE).
    42. Robert Amano & Malik Shukayev, 2009. "Risk Premium Shocks and the Zero Bound on Nominal Interest Rates," Staff Working Papers 09-27, Bank of Canada.
    43. Ludger Linnemann & Andreas Schabert, 2010. "Debt Nonneutrality, Policy Interactions, And Macroeconomic Stability," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(2), pages 461-474, May.
    44. Gross, Isaac & Hansen, James, 2021. "Optimal policy design in nonlinear DSGE models: An n-order accurate approximation," European Economic Review, Elsevier, vol. 140(C).
    45. Tatiana Damjanovic & Vladislav Damjanovic & Charles Nolan, 2017. "Unconditionally Optimal Ramsey policy," CEMAP Working Papers 2017_01, Durham University Business School.
    46. Alexandre Cunha, 2004. "The Friedman Rule in a Two Sector Small Open Economy," Econometric Society 2004 North American Summer Meetings 530, Econometric Society.
    47. Mr. Michael Kumhof & Mr. Evan C Tanner, 2005. "Government Debt: A Key Role in Financial Intermediation," IMF Working Papers 2005/057, International Monetary Fund.
    48. Firouz Gahvari & Luca Micheletto, 2019. "Heterogeneity, monetary policy, Mirrleesian taxes, and the Friedman rule," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 983-1018, June.
    49. Ester Faia & Wolfgang Lechthaler & Christian Merkl, 2014. "Labor Selection, Turnover Costs, and Optimal Monetary Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(1), pages 115-144, February.
    50. Campbell Leith & Simon Wren-Lewis, 2006. "Fiscal Sustainability in a New Keynesian Model," Working Papers 2006_11, Business School - Economics, University of Glasgow, revised Nov 2008.
    51. Jakab, Zoltan & Kumhof, Michael, 2018. "Banks are not intermediaries of loanable funds — facts, theory and evidence," Bank of England working papers 761, Bank of England, revised 17 Jan 2020.
    52. Stefan Niemann & Paul Pichler & Gerhard Sorger, 2013. "Central Bank Independence And The Monetary Instrument Problem," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 54(3), pages 1031-1055, August.
    53. Fiorella De Fiore & Pedro Teles, 2002. "The optimal mix of taxes on money, consumption and income," Working Paper Series WP-02-03, Federal Reserve Bank of Chicago.
    54. Horvath Michal, 2011. "Alternative Perspectives on Optimal Public Debt Adjustment," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-22, November.
    55. Chugh, Sanjay K. & Lechthaler, Wolfgang & Merkl, Christian, 2018. "Optimal Fiscal Policy with Labor Selection," IZA Discussion Papers 11600, Institute of Labor Economics (IZA).
    56. Jonathan Hoddenbagh & Mikhail Dmitriev, 2013. "The Optimal Design of a Fiscal Union," 2013 Papers pho497, Job Market Papers.
    57. Florin O Bilbiie & Xavier Ragot, 2020. "Optimal monetary policy and liquidity with heterogeneous households," SciencePo Working papers Main hal-03100875, HAL.
    58. Pierpaolo Benigno & Michael Woodford, 2003. "Optimal Monetary and Fiscal Policy: A Linear Quadratic Approach," NBER Working Papers 9905, National Bureau of Economic Research, Inc.
    59. Massimiliano Rigon & Francesco Zanetti, 2017. "Optimal Monetary Policy and Fiscal Policy Interaction in a non-Ricardian Economy," BCAM Working Papers 1708, Birkbeck Centre for Applied Macroeconomics.
    60. Bai, Yuting & Kirsanova, Tatiana, 2013. "Infrequent Fiscal Stabilization," SIRE Discussion Papers 2013-17, Scottish Institute for Research in Economics (SIRE).
    61. Andrew T. Levin & J. David López-Salido & Edward Nelson & Tack Yun, 2008. "Macroeconometric equivalence, microeconomic dissonance, and the design of monetary policy," Working Papers 2008-035, Federal Reserve Bank of St. Louis.
    62. Beetsma, Roel M. W. J. & Jensen, Henrik, 2004. "Mark-up fluctuations and fiscal policy stabilization in a monetary union," Journal of Macroeconomics, Elsevier, vol. 26(2), pages 357-376, June.
    63. Galo Nuño & Carlos Thomas, 2015. "Monetary policy and sovereign debt vulnerability," Working Papers 1517, Banco de España.
    64. Vladimir Tomsik, 2012. "Some insights into monetary and fiscal policy interactions in the Czech Republic," BIS Papers chapters, in: Bank for International Settlements (ed.), Fiscal policy, public debt and monetary policy in emerging market economies, volume 67, pages 161-171, Bank for International Settlements.
    65. Abo-Zaid, Salem, 2013. "Optimal monetary policy and downward nominal wage rigidity in frictional labor markets," Journal of Economic Dynamics and Control, Elsevier, vol. 37(1), pages 345-364.
    66. Hoon, Hian Teck & Phelps, Edmund S., 2008. "Future fiscal and budgetary shocks," Journal of Economic Theory, Elsevier, vol. 143(1), pages 499-518, November.
    67. Mr. Yongseung Jung & Woon Gyu Choi, 2003. "Optimal Monetary Policy in a Small Open Economy with Habit Formation and Nominal Rigidities," IMF Working Papers 2003/005, International Monetary Fund.
    68. Emmanuel Farhi, 2007. "Capital Taxation and Ownership when Markets are Incomplete," NBER Working Papers 13390, National Bureau of Economic Research, Inc.
    69. Lars Calmfors & Simon Wren-Lewis, 2011. "What Should Fiscal Councils Do?," CESifo Working Paper Series 3382, CESifo.
    70. Andrew Binning & Junior Maih, 2015. "Sigma Point Filters For Dynamic Nonlinear Regime Switching Models," Working Papers No 4/2015, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
    71. Michael, Kumhof & Ricardo, Nunes & Irina, Yakadina, 2007. "Simple Monetary Rules under Fiscal Dominance," MPRA Paper 4462, University Library of Munich, Germany.
    72. Bingbing Dong, 2014. "Asset Pricing and Monetary Policy," 2014 Meeting Papers 881, Society for Economic Dynamics.
    73. Canzoneri, Matthew B & Cumby, Robert & Diba, Behzad & López-Salido, J David, 2008. "Monetary and Fiscal Policy Coordination when Bonds Provide Transactions Services," CEPR Discussion Papers 6814, C.E.P.R. Discussion Papers.
    74. Adiya Belgibayeva & Michal Horvath, 2017. "Real Rigidities and Optimal Stabilization at the Zero Lower Bound in New Keynesian Economies," Birkbeck Working Papers in Economics and Finance 1701, Birkbeck, Department of Economics, Mathematics & Statistics.
    75. Guillermo Santos, 2022. "Optimal fiscal and monetary policy with preference over safe assets," LIDAM Discussion Papers IRES 2022021, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    76. Simon Wren-Lewis & Tatiana Kirsanova, 2007. "Optimal Fiscal Feedback on Debt in an Economy with Nominal Rigidities," Economics Series Working Papers 306, University of Oxford, Department of Economics.
    77. Leonor Coutinho, 2008. "Fiscal Policy and Macroeconomic Stabilizations: What are the Gains from Cooperation?," Open Economies Review, Springer, vol. 19(1), pages 81-120, February.
    78. Maxime MENUET & Alexandru MINEA & Patrick VILLIEU, 2017. "Public Debt, Endogenous Growth Cycles and Indeterminacy," LEO Working Papers / DR LEO 2467, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    79. Di Bartolomeo, Giovanni & Tirelli, Patrizio & Acocella, Nicola, 2012. "Inflation targets and endogenous wage markups in a New Keynesian model," Journal of Macroeconomics, Elsevier, vol. 34(2), pages 391-403.
    80. Francesco Magris & Daria Onori, 2024. "Taylor and fiscal rules: When do they stabilize the economy?," Post-Print hal-04647696, HAL.
    81. Marco Bassetto & Thomas J. Sargent, 2020. "Shotgun Wedding: Fiscal and Monetary Policy," NBER Working Papers 27004, National Bureau of Economic Research, Inc.
    82. Uhlig, H.F.H.V.S., 2002. "One Money, But Many Fiscal Policies in Europe : What are the Consequences?," Discussion Paper 2002-32, Tilburg University, Center for Economic Research.
    83. Andrew Atkeson & Varadarajan V. Chari & Patrick J. Kehoe, 2010. "Sophisticated Monetary Policies," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 125(1), pages 47-89.
    84. Alexandre Cunha, 2008. "The optimality of the Friedman rule when some distorting taxes are exogenous," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(2), pages 267-291, May.
    85. Pierpaolo Benigno & Luca Antonio Ricci, 2011. "The Inflation-Output Trade-Off with Downward Wage Rigidities," American Economic Review, American Economic Association, vol. 101(4), pages 1436-1466, June.
    86. Kim, Jinill & Ruge-Murcia, Francisco J., 2009. "How much inflation is necessary to grease the wheels?," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 365-377, April.
    87. Stéphane Auray & Beatriz de Blas & Aurélien Eyquem, 2009. "Ramsey Policies in a Small Open Economy with Sticky Prices and Capital," Cahiers de recherche 09-12, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    88. Marcet, Albert & Scott, Andrew & Faraglia, Elisa & Oikonomou, Rigas, 2012. "The Impact of Debt Levels and Debt Maturity on Inflation," CEPR Discussion Papers 9257, C.E.P.R. Discussion Papers.
    89. Monacelli, Tommas & Faia, Ester, 2004. "Ramsey Monetary Policy and International Relative Prices," CEPR Discussion Papers 4386, C.E.P.R. Discussion Papers.
    90. Adam, Klaus, 2012. "Optimal Sovereign Default," CEPR Discussion Papers 9178, C.E.P.R. Discussion Papers.
    91. Giovanni Di Bartolomeo & Patrizio Tirelli & Nicola Acocella, 2010. "Trend inflation, endogenous mark-ups and the non-vertical Phillips curve," Working Papers 186, University of Milano-Bicocca, Department of Economics, revised May 2010.
    92. Rodrigo Caputo & Felipe Liendo & Juan Pablo Medina, 2006. "New Keynesian Models For Chile During the Inflation Targeting Regime: A Structural Approach," Working Papers Central Bank of Chile 402, Central Bank of Chile.
    93. David M. Arseneau & Ryan Chahrour & Sanjay K. Chugh & Alan Finkelstein Shapiro, 2013. "Optimal Fiscal and Monetary Policy in Customer Markets," Boston College Working Papers in Economics 842, Boston College Department of Economics.
    94. Florin Bilbiie & Ippei Fujiwara & Fabio Ghironi, 2014. "Optimal monetary policy with endogenous entry and product variety," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00975152, HAL.
    95. Emilio Colombo & Davide Furceri & Pietro Pizzuto & Patrizio Tirelli, 2022. "Fiscal Multipliers and Informality," DISEIS - Quaderni del Dipartimento di Economia internazionale, delle istituzioni e dello sviluppo dis2201, Università Cattolica del Sacro Cuore, Dipartimento di Economia internazionale, delle istituzioni e dello sviluppo (DISEIS).
    96. Sebastian Sienknecht, 2010. "Adjustment Cost-Driven Inflation Inertia," Jena Economics Research Papers 2010-023, Friedrich-Schiller-University Jena.
    97. Beetsma, Roel & Jensen, Henrik, 2002. "Monetary and Fiscal Policy Interactions in a Micro-Funded Model of a Monetary Union," CEPR Discussion Papers 3591, C.E.P.R. Discussion Papers.
    98. Canzoneri, Matthew & Cumby, Robert & Diba, Behzad & López-Salido, David, 2013. "Key currency status: An exorbitant privilege and an extraordinary risk," Journal of International Money and Finance, Elsevier, vol. 37(C), pages 371-393.
    99. Di Bartolomeo Giovanni & Acocella Nicola & Tirelli Patrizio, 2008. "Trend inflation as a workers disciplining device in a general equilibrium model," wp.comunite 0043, Department of Communication, University of Teramo.
    100. Faraglia, Elisa & Oikonomou, Rigas & Equiza-Goñi, Juan, 2016. "Union Debt Management," CEPR Discussion Papers 11181, C.E.P.R. Discussion Papers.
    101. Javier Andres & Rafael Domenech & Campbell Leith, 2003. "Fiscal Policy, Macroeconomic Stability and Finite Horizons," Working Papers 2003_18, Business School - Economics, University of Glasgow, revised Oct 2003.
    102. Tamim Bayoumi & Douglas Laxton & Paolo Pesenti, 2004. "Benefits and spillovers of greater competition in Europe: a macroeconomic assessment," International Finance Discussion Papers 803, Board of Governors of the Federal Reserve System (U.S.).
    103. Maxime Menuet & Alexandru Minea & Patrick Villieu, 2018. "Deficit, monetization, and economic growth: a case for multiplicity and indeterminacy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 65(4), pages 819-853, June.
    104. Harald Uhlig, 2007. "Monetary Policy in Europe versus the United States: What Explains the Difference?," NBER Chapters, in: International Dimensions of Monetary Policy, pages 489-533, National Bureau of Economic Research, Inc.
    105. Lorenzo Menna, 2016. "Optimal Fiscal and Monetary Policies Under Limited Asset Market Participation," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 2(3), pages 363-383, November.
    106. David Aikman & Matthias Paustian, 2006. "Bank capital, asset prices and monetary policy," Bank of England working papers 305, Bank of England.
    107. Panagiotis Chronis & Aspassia Strantzalou, 2008. "Monetary and Fiscal Policy Interaction: What is the Role of the Transaction Cost of the Tax System in Stabilisation Policies?," Working Papers 71, Bank of Greece.
    108. Wei Dong & Geoffrey Dunbar & Christian Friedrich & Dmitry Matveev & Romanos Priftis & Lin Shao, 2021. "Complementarities Between Fiscal Policy and Monetary Policy—Literature Review," Discussion Papers 2021-4, Bank of Canada.
    109. Mihailov, Alexander & Ullrich, Katrin, 2007. "Independence and Accountability of Monetary and Fiscal Policy Committees," ZEW Discussion Papers 07-044, ZEW - Leibniz Centre for European Economic Research.
    110. Liu, Xuan, 2013. "Time consistency of optimal monetary and fiscal policy in a small open economy," Journal of International Money and Finance, Elsevier, vol. 36(C), pages 47-67.
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    2. Jess Benhabib & Stefano Eusepi, 2005. "The design of monetary and fiscal policy: a global perspective," Proceedings, Federal Reserve Bank of San Francisco.
    3. Sugo, Tomohiro & Ueda, Kozo, 2008. "Eliminating a deflationary trap through superinertial interest rate rules," Economics Letters, Elsevier, vol. 100(1), pages 119-122, July.
    4. Rodolfo G. Campos & Jesús Fernández-Villaverde & Galo Nuño & Peter Paz, 2024. "Navigating by Falling Stars: Monetary Policy with Fiscally Driven Natural Rates," NBER Working Papers 32219, National Bureau of Economic Research, Inc.
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    2. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2003. "Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability," Proceedings, Federal Reserve Bank of Cleveland, pages 1379-1423.
    3. Cavallo, Michele & Ghironi, Fabio, 2002. "Net foreign assets and the exchange rate: Redux revived," Journal of Monetary Economics, Elsevier, vol. 49(5), pages 1057-1097, July.
    4. Stephanie Schmitt‐Grohé & Martín Uribe, 2009. "Liquidity traps with global Taylor Rules," International Journal of Economic Theory, The International Society for Economic Theory, vol. 5(1), pages 85-106, March.
    5. William A. Barnett & Giovanni Bella & Taniya Ghosh & Paolo Mattana & Beatrice Venturi, 2020. "Shilnikov Chaos, Low Interest Rates, and New Keynesian Macroeconomics," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 202001, University of Kansas, Department of Economics, revised Jan 2020.
    6. Stefano Eusepi, 2005. "Comparing forecast-based and backward-looking Taylor rules: a "global" analysis," Staff Reports 198, Federal Reserve Bank of New York.
    7. Catherine Kyrtsou & Costas Vorlow, 2008. "Modelling non-linear comovements between time series," Department of Economics Working Papers 2008_01, Durham University, Department of Economics.
    8. Robert Kollmann, 2020. "Liquidity Traps in a Monetary Union," Globalization Institute Working Papers 397, Federal Reserve Bank of Dallas.
    9. Bella, Giovanni, 2017. "Homoclinic bifurcation and the Belyakov degeneracy in a variant of the Romer model of endogenous growth," Chaos, Solitons & Fractals, Elsevier, vol. 104(C), pages 452-460.
    10. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2002. "Avoiding Liquidity Traps," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 535-563, June.
    11. Eusepi, Stefano, 2007. "Learnability and monetary policy: A global perspective," Journal of Monetary Economics, Elsevier, vol. 54(4), pages 1115-1131, May.
    12. Kollmann, Robert, 2021. "Liquidity traps in a world economy," Journal of Economic Dynamics and Control, Elsevier, vol. 132(C).
    13. Schaal, Edouard & Taschereau-Dumouchel, Mathieu, 2021. "Herding Through Booms and Busts," CEPR Discussion Papers 16368, C.E.P.R. Discussion Papers.
    14. Alexeeva, Tatyana A. & Kuznetsov, Nikolay V. & Mokaev, Timur N., 2021. "Study of irregular dynamics in an economic model: attractor localization and Lyapunov exponents," Chaos, Solitons & Fractals, Elsevier, vol. 152(C).
    15. Barnett, William A. & Bella, Giovanni & Ghosh, Taniya & Mattana, Paolo & Venturi, Beatrice, 2022. "Is policy causing chaos in the United Kingdom?," Economic Modelling, Elsevier, vol. 108(C).
    16. Barnett William A. & Bella Giovanni & Ghosh Taniya & Mattana Paolo & Venturi Beatrice, 2023. "Controlling chaos in New Keynesian macroeconomics," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 27(2), pages 219-236, April.
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    720. Górajski Mariusz & Kuchta Zbigniew, 2018. "Measuring Uncertainty of Optimal Simple Monetary Policy Rules in DSGE models," Lodz Economics Working Papers 6/2018, University of Lodz, Faculty of Economics and Sociology.
    721. Dennis, Richard, 2022. "Computing time-consistent equilibria: A perturbation approach," Journal of Economic Dynamics and Control, Elsevier, vol. 137(C).
    722. Reinout De Bock, 2005. "Embodied Technical Change and the Persistence of Vacancies," 2005 Meeting Papers 572, Society for Economic Dynamics.
    723. Jim Malley & Ulrich Woitek, 2019. "Estimated Human Capital Externalities in an Endogenous Growth Framework," Working Papers 2019_04, Business School - Economics, University of Glasgow.
    724. Ulrich Gunter, 2019. "Estimating and forecasting with a two-country DSGE model of the Euro area and the USA: the merits of diverging interest-rate rules," Empirical Economics, Springer, vol. 56(4), pages 1283-1323, April.
    725. Grajales Olarte, Anderson, 2018. "Essays on nominal rigidities : Identification, macrodynamic consequences and policy implications," Other publications TiSEM 990778b6-974d-45bd-a294-6, Tilburg University, School of Economics and Management.
    726. Marcelo Ochoa & Patricio Valenzuela, 2004. "Impactos de un Shock Externo en un Modelo Estocástico de Equilibrio General para una Economía Abierta: El Caso de Chile," Macroeconomics 0407007, University Library of Munich, Germany.
    727. Francesco Busato & Bruno Chiarini & Gianluigi Cisco & Maria Ferrara, 2023. "Green preferences," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(4), pages 3211-3253, April.
    728. Martin M. Andreasen, 2019. "Explaining Bond Return Predictability in an Estimated New Keynesian Model," CREATES Research Papers 2019-11, Department of Economics and Business Economics, Aarhus University.
    729. Gondo, Rocio & Orrego, Fabrizio, 2011. "Dedollarization and financial robustness," Working Papers 2011-022, Banco Central de Reserva del Perú.
    730. Elisa Guglielminetti, 2016. "The labor market channel of macroeconomic uncertainty," Temi di discussione (Economic working papers) 1068, Bank of Italy, Economic Research and International Relations Area.
    731. Francisco RUGE-MURCIA, 2014. "Indirect Inference Estimation of Nonlinear Dynamic General Equilibrium Models : With an Application to Asset Pricing under Skewness Risk," Cahiers de recherche 15-2014, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    732. Mauro Bambi & Aurélien Saïdi, 2008. "Increasing Returns to Scale and Welfare: Ranking the Multiple Deterministic Equilibria," CER-ETH Economics working paper series 08/99, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
    733. Paolo Zagaglia, 2007. "Operational Fiscal and Monetary Policy with Staggered Wage and Price Dynamics," Finnish Economic Papers, Finnish Economic Association, vol. 20(2), pages 121-138, Autumn.
    734. Tiago Berriel & Daniel Sinigaglia, 2008. "Optimal Fiscal and Monetary Policy under Sectorial Heterogeneity," Textos para Discussão 12, Instituto de Estudos de Política Econômica.
    735. Rubio, Margarita & Comunale, Mariarosaria, 2018. "Macroeconomic and financial stability in a monetary union: The case of Lithuania," Economic Systems, Elsevier, vol. 42(1), pages 75-90.
    736. J. Felipe Córdova, 2010. "Conventional Calibration Versus EDF Calibration," Working Papers Central Bank of Chile 589, Central Bank of Chile.
    737. Carlos Gustavo Machicado, 2006. "Welfare Gains from Optimal Policy in a Partially Dollarized Economy," Development Research Working Paper Series 10/2006, Institute for Advanced Development Studies.
    738. Berriel, Tiago & Sinigaglia, Daniel, 2008. "Optimal Fiscal and Monetary Policy under Sectorial Heterogeneity," MPRA Paper 10233, University Library of Munich, Germany, revised 25 Jun 2008.
    739. Zavkidjon Zavkiev, 2005. "Estimating A Model Of Inflation In Tajikistan," CAMA Working Papers 2005-26, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    740. Christopher Heiberger & Torben Klarl & Alfred Maussner, 2012. "A Note on the Uniqueness of Solutions to Rational Expectations Models," Discussion Paper Series 319, Universitaet Augsburg, Institute for Economics.
    741. Rómulo A. Chumacero & Rodrigo Fuentes & Klaus Schmidt-Hebbel, 2004. "Chile’s Free Trade Agreements: How Big is The Deal?," Working Papers Central Bank of Chile 264, Central Bank of Chile.
    742. M. Marzo, 2004. "Optimal Monetary Policy in a Simple Distorted Economy," Working Papers 511, Dipartimento Scienze Economiche, Universita' di Bologna.
    743. Horvath, Jaroslav, 2018. "Business cycles, informal economy, and interest rates in emerging countries," Journal of Macroeconomics, Elsevier, vol. 55(C), pages 96-116.
    744. Amaral, Pedro S. & MacGee, James C., 2017. "Monetary shocks and sticky wages in the U.S. great contraction: A multi-sector approach," Journal of Monetary Economics, Elsevier, vol. 92(C), pages 112-129.
    745. Horvath, Jaroslav & Yang, Guanyi, 2022. "Unemployment dynamics and informality in small open economies," European Economic Review, Elsevier, vol. 141(C).
    746. Hwang, Seolwoong & Kim, Soyoung, 2022. "Real business cycles in emerging countries: Are Asian business cycles different from Latin American business cycles?," Journal of International Money and Finance, Elsevier, vol. 129(C).
    747. Mykhaylova, Olena, 2010. "Optimal Monetary Policy with Non-Zero Net Foreign Wealth," MPRA Paper 23598, University Library of Munich, Germany.
    748. Schmitt-Grohé, Stephanie & Uribe, Martín, 2012. "An OLS approach to computing Ramsey equilibria in medium-scale macroeconomic models," Economics Letters, Elsevier, vol. 115(1), pages 128-129.
    749. Mimir, Yasin, 2012. "Financial intermediaries, credit Shocks and business cycles," MPRA Paper 39648, University Library of Munich, Germany.
    750. Carlos Garcia & Jorge Restrepo & Evan Tanner, 2009. "Fiscal Rules for Commodity Exporters:Prudence and Procyclicality," ILADES-UAH Working Papers inv227, Universidad Alberto Hurtado/School of Economics and Business.
    751. Soraya Roman, 2011. "Labour costs, informal economy and labor law reforms in Bolivia," Development Research Working Paper Series 08/2011, Institute for Advanced Development Studies.
    752. Vasilev, Aleksandar, 2013. "Essays on Real Business Cycle Modeling and the Public Sector," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 130522, March.
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    759. Gregory Thwaites, 2006. "Optimal emerging market fiscal policy when trend output growth is unobserved," Bank of England working papers 308, Bank of England.
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  58. Uribe, Martín & Schmitt-Grohé, Stephanie, 2001. "Liquidity Traps with Global Taylor Rules," CEPR Discussion Papers 2969, C.E.P.R. Discussion Papers.

    Cited by:

    1. Bennett T. McCallum, 2002. "Consistent Expectations, Rational Expectations, Multiple-Solution Indeterminacies, and Least-Squares Learnability," NBER Working Papers 9218, National Bureau of Economic Research, Inc.
    2. Gilles Dufrénot & Guillaume A. Khayat, 2017. "Monetary Policy Switching in the Euro Area and Multiple Steady States: An Empirical Investigation," Post-Print hal-01590000, HAL.
    3. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2003. "Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability," Proceedings, Federal Reserve Bank of Cleveland, pages 1379-1423.
    4. Lawrence Christiano & Martin Eichenbaum & Sergio Rebelo, 2009. "When is the government spending multiplier large?," NBER Working Papers 15394, National Bureau of Economic Research, Inc.
    5. Marco Bassetto, 2004. "Negative Nominal Interest Rates," American Economic Review, American Economic Association, vol. 94(2), pages 104-108, May.
    6. Bernardino Adão & Pedro Teles, 2010. "Short and Long Interest Rate Targets," Working Papers w201015, Banco de Portugal, Economics and Research Department.
    7. Brito Paulo & Marini Giancarlo & Piergallini Alessandro, 2016. "House prices and monetary policy," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 20(3), pages 251-277, June.
    8. Daria ONORI & Francesco MAGRIS & Antoine LE RICHE, 2017. "Monetary Rules in a Two-Sector Endogenous Growth Model with Cash-in-Advance Constraint," LEO Working Papers / DR LEO 2504, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    9. Gauti Eggertsson & Sergey K. Egiev & Alessandro Lin & Josef Platzer & Luca Riva, 2020. "A Toolkit for Solving Models with a Lower Bound on Interest Rates of Stochastic Duration," Working Papers 2020-14, Brown University, Department of Economics.
    10. Jess Benhabib & Stephanie Schmitt-Grohé & Martín Uribe, 2002. "Chaotic Interest-Rate Rules," American Economic Review, American Economic Association, vol. 92(2), pages 72-78, May.
    11. Gilles Dufrénot & Anwar Khayat, 2014. "Monetary Policy Switching in the Euro Area and Multiple Equilibria: An Empirical Investigation," Working Papers halshs-00973504, HAL.
    12. Pedro Teles & Isabel Correia & Bernardino Adao, 2007. "Monetary Policy with Single Instrument Feedback Rules," 2007 Meeting Papers 622, Society for Economic Dynamics.
    13. Alessandro Piergallini, 2021. "Fiscal Stimulus of Last Resort," Papers 2104.02753, arXiv.org.
    14. Bennett T. McCallum, 2001. "Inflation targeting and the liquidity trap," Proceedings, Federal Reserve Bank of San Francisco, issue Mar.
    15. James B. Bullard, 2013. "Seven Faces of \\"The Peril\\"," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 613-628.
    16. Fernando M. Duarte, 2016. "How to escape a liquidity trap with interest rate rules," Staff Reports 776, Federal Reserve Bank of New York.
    17. Cornaro, Alessandra & Agliari, Anna, 2011. "Global and local determinacy in a one-step forward looking New Keynesian model," Economic Modelling, Elsevier, vol. 28(3), pages 1354-1362, May.
    18. Antoine Le Riche & Francesco Magris & Antoine Parent, 2016. "Liquidity Trap and Stability of Taylor Rules," Working Papers halshs-01313002, HAL.
    19. Klaeffling, Matt & López Pérez, Víctor, 2003. "Inflation targets and the liquidity trap," Working Paper Series 272, European Central Bank.
    20. Michael D. Bordo, 2014. "Exiting from Low Interest Rates to Normality: An Historical Perspective," Economics Working Papers 14110, Hoover Institution, Stanford University.
    21. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2004. "Chaotic Interest Rate Rules: Expanded Version," NBER Working Papers 10272, National Bureau of Economic Research, Inc.
    22. Albertini, Julien & Lan, Hong, 2016. "The importance of time-varying parameters in new Keynesian models with zero lower bound," SFB 649 Discussion Papers 2016-013, Humboldt University Berlin, Collaborative Research Center 649: Economic Risk.
    23. Waters, George A., 2022. "The many faces of the taylor rule for advanced undergraduate macroeconomics," International Review of Economics Education, Elsevier, vol. 41(C).

  59. Stephanie Schmitt-Grohe & Martin Uribe, 2000. "Stabilization Policy and the Costs of Dollarization," Departmental Working Papers 200006, Rutgers University, Department of Economics.

    Cited by:

    1. Federico Ravenna & Giovanni Lombardo, 2009. "Trade and Optimal Monetary Policy," 2009 Meeting Papers 784, Society for Economic Dynamics.
    2. Adolfson, Malin & Laséen, Stefan & Lindé, Jesper & Villani, Mattias, 2005. "Bayesian Estimation of an Open Economy DSGE Model with Incomplete Pass-Through," Working Paper Series 179, Sveriges Riksbank (Central Bank of Sweden).
    3. Araújo, Aloísio Pessoa de & Leon, Márcia Saraiva, 2002. "Speculative attacks on debts, dollarization and optimum currency areas," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 446, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    4. Anamaría Pieschacón, 2009. "Implementable Fiscal Rules for an Oil-Exporting Small Open Economy Facing Depletion," OxCarre Working Papers 019, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    5. Juan-Pierré BRUWER & André VAN DEN BERG, 2017. "The conduciveness of the South African economic environment and Small, Medium and Micro Enterprise sustainability: A literature review," Expert Journal of Business and Management, Sprint Investify, vol. 5(1), pages 1-12.
    6. Kollmann, Robert, 2003. "Monetary Policy Rules in an Interdependent World," CEPR Discussion Papers 4012, C.E.P.R. Discussion Papers.
    7. Cruz Rodriguez, Alexis, 2009. "Choosing and assessing exchange rate regimes: A survey of the literature," MPRA Paper 16314, University Library of Munich, Germany.
    8. Federico Ravenna, 2005. "The European Monetary Union as a Commitment Device for New EU Member States," Working Papers 98, Oesterreichische Nationalbank (Austrian Central Bank).
    9. Roberto Duncan, 2003. "Exploring the Implications of Official Dollarization on Macroeconomic Volatility," Working Papers Central Bank of Chile 200, Central Bank of Chile.
    10. Stephanie Schmitt-Grohe & Martin Uribe, 2007. "Optimal simple and implementable monetary and fiscal rules," FRB Atlanta Working Paper 2007-24, Federal Reserve Bank of Atlanta.
    11. Mark Gertler & Simon Gilchrist & Fabio Natalucci, 2003. "External Constraints on Monetary Policy and the Financial Accelerator," NBER Working Papers 10128, National Bureau of Economic Research, Inc.
    12. Tommaso Monacelli, 2000. "Relinquishing Monetary Policy Independence," Boston College Working Papers in Economics 483, Boston College Department of Economics.
    13. Vicente Tuesta & Jorge Selaive, 2004. "Net Foreing Assets and Imperfect Pass-through: The Consumption-Real Exchange Rate Anomaly," 2004 Meeting Papers 203, Society for Economic Dynamics.
    14. Malin Adolfson & Stefan Laséen & Jesper Lindé & Lars E.O. Svensson, 2008. "Monetary Policy Trade-Offs in an Estimated Open-Economy DSGE Model," NBER Working Papers 14510, National Bureau of Economic Research, Inc.
    15. Nannette Lindenberg & Frank Westermann, 2009. "How Strong is the Case for Dollarization in Costa Rica? A Note on the Business Cycle Comovements with the United States," CESifo Working Paper Series 2785, CESifo.
    16. Schmitt-Grohe, Stephanie & Uribe, Martin, 2003. "Closing small open economy models," Journal of International Economics, Elsevier, vol. 61(1), pages 163-185, October.
    17. Adolfson, Malin & Laséen, Stefan & Lindé, Jesper & Ratto, Marco, 2018. "Identification Versus Misspecification in New Keynesian Monetary Policy Models," Working Paper Series 362, Sveriges Riksbank (Central Bank of Sweden).
    18. Malik, Hamza, 2005. "Monetary-Exchange Rate Policy and Current Account Dynamics," MPRA Paper 455, University Library of Munich, Germany, revised Sep 2006.
    19. Benigno, Pierpaolo & Schilling, Linda & Uhlig, Harald, 2022. "Cryptocurrencies, Currency Competition, and The Impossible Trinity," CEPR Discussion Papers 13943, C.E.P.R. Discussion Papers.
    20. Michael Kumhof, 2000. "A Critical View of Inflation Targeting: Crises, Limited Sustainability, and Aggregate Shocks," Working Papers 00022, Stanford University, Department of Economics.
    21. Fabio Ghironi, 2000. "Macroeconomic Interdependence under Incomplete Markets," Boston College Working Papers in Economics 471, Boston College Department of Economics, revised 07 Feb 2003.
    22. Shreekar Pradhan & S. Holladay & M. Mohsin, 2017. "Environmental Policy Instruments Response to Trade Shocks," EcoMod2017 10233, EcoMod.
    23. Nienke Oomes, 2003. "Network Externalities and Dollarization Hysteresis: The Case of Russia," IMF Working Papers 2003/096, International Monetary Fund.
    24. Kollmann, Robert, 2002. "Monetary Policy Rules in the Open Economy: Effects on Welfare and Business Cycles," CEPR Discussion Papers 3279, C.E.P.R. Discussion Papers.
    25. Rodrigo Caputo & Felipe Liendo & Juan Pablo Medina, 2006. "New Keynesian Models For Chile During the Inflation Targeting Regime: A Structural Approach," Working Papers Central Bank of Chile 402, Central Bank of Chile.
    26. Pieschacón, Anamaría, 2012. "The value of fiscal discipline for oil-exporting countries," Journal of Monetary Economics, Elsevier, vol. 59(3), pages 250-268.
    27. Iliopulos, Eleni & Perego, Erica & Sopraseuth, Thepthida, 2021. "International business cycles: Information matters," Journal of Monetary Economics, Elsevier, vol. 123(C), pages 19-34.
    28. Emilio Ocampo, 2023. "Dollarization as an Effective Commitment Device: The Case of Argentina," CEMA Working Papers: Serie Documentos de Trabajo. 848, Universidad del CEMA.
    29. Douch, Mohamed & Essadam, Naceur, 2008. "Monetary policy conduct: A hybrid framework," MPRA Paper 20715, University Library of Munich, Germany.
    30. Malin Adolfson & Jesper Linde & Mattias Villani, 2007. "Forecasting Performance of an Open Economy DSGE Model," Econometric Reviews, Taylor & Francis Journals, vol. 26(2-4), pages 289-328.
    31. Frankel, Jeffrey, 2010. "Monetary Policy in Emerging Markets," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 25, pages 1439-1520, Elsevier.
    32. Shimotsu, Tor, 2002. "Small Open Economy Model with Domestic Resource Shocks: Monetary Union vs. Floating Exchange Rate," Economics Discussion Papers 8841, University of Essex, Department of Economics.
    33. Kang Shi & Juanyi Xu, 2008. "The Optimal Currency Basket with Input Currency and Output Currency," Working Papers 172008, Hong Kong Institute for Monetary Research.
    34. Roberto Duncan, 2003. "Floating, Official Dollarization, and Macroeconomic Volatility:An Analysis for the Chilean Economy," Working Papers Central Bank of Chile 249, Central Bank of Chile.
    35. Adolfson, Malin & Laseén, Stefan & Lindé, Jesper & Svensson, Lars E.O., 2008. "Optimal Monetary Policy in an Operational Medium-Sized DSGE Model," Working Paper Series 225, Sveriges Riksbank (Central Bank of Sweden).
    36. Felices Guillermo & Tuesta Vicente, 2007. "Monetary Policy in Dual Currency Environment," Working Papers 2007-006, Banco Central de Reserva del Perú.
    37. Shinkevich Andrey, 2002. "Dollarization Hysteresis in Russia," EERC Working Paper Series 00-087e, EERC Research Network, Russia and CIS.
    38. Artus P., 2001. "What Exchange - Rate System For Emerging Countries?," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 27-60, January -.
    39. Chuku Chuku, 2020. "Monetary policy options for managing resource revenue shocks when fiscal policy is laissez-faire," Economic Change and Restructuring, Springer, vol. 53(1), pages 113-138, February.
    40. Özbilgin, Murat H., 2012. "Currency substitution, inflation, and welfare," Journal of Development Economics, Elsevier, vol. 99(2), pages 358-369.
    41. Francois R. Velde & Marcelo Veracierto, 2000. "Dollarization in Argentina," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 24(Q I), pages 24-37.
    42. Stephanie Schmitt-Grohé & Martín Uribe, 2006. "Optimal Simple and Implementable Monetary and Fiscal Rules: Expanded Version," NBER Working Papers 12402, National Bureau of Economic Research, Inc.
    43. Adolfson, Malin & Lindé, Jesper, 2011. "Parameter Identification in a Estimated New Keynesian Open Economy Model," Working Paper Series 251, Sveriges Riksbank (Central Bank of Sweden).
    44. Mr. David Cook & Woon Gyu Choi, 2002. "Liability Dollarization and the Bank Balance Sheet Channel," IMF Working Papers 2002/141, International Monetary Fund.
    45. Nicolás Oviedo, 2022. "Deficit fiscal y tipo de cambio fijo: racionalizando una combinación insostenible," Young Researchers Working Papers 3, Universidad de San Andres, Departamento de Economia, revised Oct 2022.
    46. Paulina Restrepo-Echavarria, 2024. "Closing Small and "Sufficiently" Large Open Economies with Different Asset Structures," Review, Federal Reserve Bank of St. Louis, vol. 106(13), pages 1-8, December.
    47. Jordi Galí & Tommaso Monacelli, 2005. "Monetary Policy and Exchange Rate Volatility in a Small Open Economy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 72(3), pages 707-734.
    48. Fabio Canova, 2005. "The transmission of US shocks to Latin America," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 20(2), pages 229-251.
    49. Fabio M. Natalucci & Federico Ravenna, 2002. "The road to adopting the euro: monetary policy and exchange rate regimes in EU candidate countries," International Finance Discussion Papers 741, Board of Governors of the Federal Reserve System (U.S.).
    50. Federico S. Mandelman, 2006. "Business cycles and monetary regimes in emerging economies: a role for a monopolistic banking sector," FRB Atlanta Working Paper 2006-17, Federal Reserve Bank of Atlanta.
    51. KiHoon Hong & Kyounghoon Park & Jongmin Yu, 2018. "Crowding Out in a Dual Currency Regime? Digital Versus Fiat Currency," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 54(11), pages 2495-2515, September.
    52. Ivan Milenković & Milivoje Davidović, 2013. "Determinants of Currency Substitution/Dollarization – The Case of the Republic of Serbia," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 2(1), pages 139-155.
    53. Linde, Jesper & Adolfson, Malin & LASEEN, PER & Villani, Mattias, 2007. "Evaluating An Estimated New Keynesian Small Open Economy Model," CEPR Discussion Papers 6027, C.E.P.R. Discussion Papers.
    54. Shi, Kang & Xu, Juanyi, 2010. "Intermediate goods trade and exchange rate pass-through," Journal of Macroeconomics, Elsevier, vol. 32(2), pages 571-583, June.
    55. Mr. Selim A Elekdag & Mr. Ivan Tchakarov, 2004. "Balance Sheets, Exchange Rate Policy, and Welfare," IMF Working Papers 2004/063, International Monetary Fund.
    56. Levy Yeyati, Eduardo & Sturzenegger, Federico, 2010. "Monetary and Exchange Rate Policies," Handbook of Development Economics, in: Dani Rodrik & Mark Rosenzweig (ed.), Handbook of Development Economics, edition 1, volume 5, chapter 0, pages 4215-4281, Elsevier.
    57. Jorge A. Fornero, 2010. "Ricardian Equivalence Proposition in a NK DSGE Model for two Large Economies: The EU and the US," Working Papers Central Bank of Chile 563, Central Bank of Chile.
    58. Ruy Lama & Juan Pablo Medina, 2004. "Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices," Working Papers Central Bank of Chile 286, Central Bank of Chile.
    59. Alejandro Justiniano, 2004. "Sources and Propagation Mechanims of Foreign Disturbances in Small Open Economies: A Dynamic Factor Analysis," Econometric Society 2004 Latin American Meetings 148, Econometric Society.
    60. Michael B. Devereux, 2001. "Financial Constraints and Exchange Rate Flexibility in Emerging Market Economies," Working Papers 152001, Hong Kong Institute for Monetary Research.
    61. Ekaterina Pirozhkova & Jeffrey Rakgalakane & Luchelle Soobyah Rudi Steinbach, 2023. "EnhancingtheQuarterlyProjectionModel," Working Papers 11044, South African Reserve Bank.
    62. Federico Ravenna & Fabio M. Natalucci, 2008. "Monetary Policy Choices in Emerging Market Economies: The Case of High Productivity Growth," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(2-3), pages 243-271, March.
    63. Noha Emara, 2012. "The Welfare Effects of Inflation Volatility and Institutions," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 4(1), pages 5-27, January.
    64. Charles Engel, 2000. "Optimal Exchange Rate Policy:The Influence of Price-Setting and Asset Markets," Discussion Papers in Economics at the University of Washington 0020, Department of Economics at the University of Washington.
    65. Nannette Lindenberg & Frank Westermann, 2012. "How strong is the case for dollarization in Central America? An empirical analysis of business cycles, credit market imperfections and the exchange rate," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 17(2), pages 147-166, April.
    66. Kollmann, Robert, 2002. "Monetary Policy Rules in a Two-Country World," MPRA Paper 70347, University Library of Munich, Germany.
    67. Fabio Canova, 2005. "The transmission of US shocks to Latin America," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 20(2), pages 229-251.
    68. Batini, Nicoletta & Levine, Paul & Pearlman, Joseph, 2009. "Estabilización óptima del tipo de cambio en una economía dolarizada con meta inflacionaria," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 16, pages 37-82.
    69. de Walque, Gregory & Lejeune, Thomas & Rannenberg, Ansgar & Wouters, Raf, 2023. "Low pass-through and international synchronization in general equilibrium: Reassessing vertical integration," Journal of International Economics, Elsevier, vol. 140(C).
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    71. Gaetano Antinolfi & Todd Keister, 2001. "Dollarization as a monetary arrangement for emerging market economies," Review, Federal Reserve Bank of St. Louis, vol. 83(Nov.), pages 29-40.
    72. Lombardo, Giovanni, 2006. "Inflation targeting rules and welfare in an asymmetric currency area," Journal of International Economics, Elsevier, vol. 68(2), pages 424-442, March.
    73. Luis-Felipe Zanna, 2004. "PPP rules, macroeconomic (In)stability and learning," International Finance Discussion Papers 814, Board of Governors of the Federal Reserve System (U.S.).
    74. Del Negro, Marco & Obiols-Homs, Francesc, 2001. "Has Monetary Policy Been so Bad that It Is Better to Get Rid of It? The Case of Mexico," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(2), pages 404-433, May.
    75. Robert Ambrisko, 2015. "A Small Open Economy with the Balassa-Samuelson Effect," CERGE-EI Working Papers wp547, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    76. Pierpaolo Benigno, 2008. "Price stability with imperfect financial integration," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
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    78. Kolver Hernandez, 2006. "State-Dependent Nominal Rigidities & Disinflation Programs in Small Open Economies," Working Papers 06-13, University of Delaware, Department of Economics.
    79. Ruy Lama & Juan Pablo Medina, 2012. "Is Exchange Rate Stabilization an Appropriate Cure for the Dutch Disease?," International Journal of Central Banking, International Journal of Central Banking, vol. 8(1), pages 5-46, March.
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    81. Svitlana Maksymenko, 2015. "The Cost of Euro Adoption in Poland," Working Paper 5779, Department of Economics, University of Pittsburgh.
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    1. Jinill Kim & Sunghyun Henry Kim & Andrew T. Levin, 2001. "Patience, persistence and welfare costs of incomplete markets in open economies," International Finance Discussion Papers 696, Board of Governors of the Federal Reserve System (U.S.).
    2. Kumhof, Michael & Li, Shujing & Yan, Isabel, 2007. "Balance of payments crises under inflation targeting," Journal of International Economics, Elsevier, vol. 72(1), pages 242-264, May.
    3. Yan Zhang, 2008. "Does the Utility Function Form Matter for Indeterminacy in a Two Sector Small Open Economy," Annals of Economics and Finance, Society for AEF, vol. 9(1), pages 91-101, May.
    4. Liu, Xuan, 2007. "Trade Openness and the Cost of Sudden Stops: The Role of Financial Friction," MPRA Paper 18260, University Library of Munich, Germany, revised 26 Oct 2009.
    5. Mariassunta Giannetti, 2004. "Old and Modern Currency Crises: Short-Term Liabilities, Speculative Attacks and Business Cycles," Econometric Society 2004 North American Summer Meetings 133, Econometric Society.

  62. Benhabib, Jess & Schmitt-Grohé, Stephanie & Uribe, Martín, 1999. "The Perils of Taylor Rules," CEPR Discussion Papers 2314, C.E.P.R. Discussion Papers.

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    8. Sugo, Tomohiro & Ueda, Kozo, 2008. "Eliminating a deflationary trap through superinertial interest rate rules," Economics Letters, Elsevier, vol. 100(1), pages 119-122, July.
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    1. Federico Ravenna & Giovanni Lombardo, 2009. "Trade and Optimal Monetary Policy," 2009 Meeting Papers 784, Society for Economic Dynamics.
    2. Burstein, Ariel T. & Neves, Joao C. & Rebelo, Sergio, 2003. "Distribution costs and real exchange rate dynamics during exchange-rate-based stabilizations," Journal of Monetary Economics, Elsevier, vol. 50(6), pages 1189-1214, September.
    3. Mr. A. J Hamann, 1999. "Exchange-Rate-Based Stabilization: A Critical Look at the Stylized Facts," IMF Working Papers 1999/132, International Monetary Fund.
    4. Kose, M. Ayhan, 2002. "Explaining business cycles in small open economies: 'How much do world prices matter?'," Journal of International Economics, Elsevier, vol. 56(2), pages 299-327, March.
    5. Stephanie Schmitt-Grohe & Martin Uribe, 2000. "Stabilization Policy and the Costs of Dollarization," Departmental Working Papers 200006, Rutgers University, Department of Economics.
    6. Fabio M. Natalucci & Federico Ravenna, 2002. "The road to adopting the euro: monetary policy and exchange rate regimes in EU candidate countries," International Finance Discussion Papers 741, Board of Governors of the Federal Reserve System (U.S.).
    7. Neven T. Valev & John A. Carlson, 2003. "Tenuous Financial Stability," William Davidson Institute Working Papers Series 540, William Davidson Institute at the University of Michigan.
    8. Christian Fahrholz, 2003. "Strategic Exchange-Rate Policy of Accession Countries in ERM II," Eastward Enlargement of the Euro-zone Working Papers wp14, Free University Berlin, Jean Monnet Centre of Excellence, revised 01 Apr 2003.
    9. Özlem Aytaç, 2017. "Exchange Rate-Based Stabilizations: A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 31(3), pages 815-830, July.
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    11. Jose Saboin, 2018. "The Modern Hyperinflation Cycle: Some New Empirical Regularities," IMF Working Papers 2018/266, International Monetary Fund.
    12. Stanley Fischer & Ratna Sahay & Carlos A. Végh, 2002. "Modern Hyper- and High Inflations," Journal of Economic Literature, American Economic Association, vol. 40(3), pages 837-880, September.

  64. Enrique G. Mendoza & Martin Uribe, 1998. "The business cycles of currency speculation: a revision of the Mundellian framework," International Finance Discussion Papers 617, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Shankar, Rashmi, 2002. "Distinguishing between observationally equivalent theories of crises," Policy Research Working Paper Series 2926, The World Bank.
    2. Enrique G. Mendoza & Guillermo A. Calvo, 2000. "Capital-Markets Crises and Economic Collapse in Emerging Markets: An Informational-Frictions Approach," American Economic Review, American Economic Association, vol. 90(2), pages 59-64, May.
    3. Uribe, Martin, 1999. "Comparing the welfare costs and initial dynamics of alternative inflation stabilization policies," Journal of Development Economics, Elsevier, vol. 59(2), pages 295-318, August.
    4. Francisco Venegas-Martínez, 2005. "Temporary Stabilization and the Real Option of Waiting when Consumption can be Delayed: an Extreme Value Approach," DEGIT Conference Papers c010_043, DEGIT, Dynamics, Economic Growth, and International Trade.

  65. Stephanie Schmitt-Grohe & Martin Uribe, 1998. "Price Level Determinacy and Monetary Policy under a Balanced-Budget Requirement," Departmental Working Papers 199833, Rutgers University, Department of Economics.

    Cited by:

    1. Stefano Bosi & Michel Guillard, 2000. "Growth and Inflation in a Monetary “Selling-Cost” Model," Documents de recherche 00-05, Centre d'Études des Politiques Économiques (EPEE), Université d'Evry Val d'Essonne.
    2. Boris Chafwehé & Charles de Beauffort & Rigas Oikonomou, 2022. "Optimal Monetary Policy Rules in the Fiscal Theory of the Price Level," LIDAM Discussion Papers IRES 2022007, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    3. Jess Benhabib & Stefano Eusepi, 2005. "The design of monetary and fiscal policy: a global perspective," Proceedings, Federal Reserve Bank of San Francisco.
    4. Sugo, Tomohiro & Ueda, Kozo, 2008. "Eliminating a deflationary trap through superinertial interest rate rules," Economics Letters, Elsevier, vol. 100(1), pages 119-122, July.
    5. Rodolfo G. Campos & Jesús Fernández-Villaverde & Galo Nuño & Peter Paz, 2024. "Navigating by Falling Stars: Monetary Policy with Fiscally Driven Natural Rates," NBER Working Papers 32219, National Bureau of Economic Research, Inc.
    6. Jérôme Creel & Henri Sterdyniak, 2000. "La théorie budgétaire du niveau des prix, un bilan critique," Working Papers hal-00972874, HAL.
    7. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2003. "Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability," Proceedings, Federal Reserve Bank of Cleveland, pages 1379-1423.
    8. Iwamoto, Yasushi, 2005. "Monetary and Fiscal Policy to Escape from a Deflationary Trap," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 23(1), pages 1-46, February.
    9. Stephanie Schmitt‐Grohé & Martín Uribe, 2009. "Liquidity traps with global Taylor Rules," International Journal of Economic Theory, The International Society for Economic Theory, vol. 5(1), pages 85-106, March.
    10. Francesco Bianchi & Renato Faccini & Leonardo Melosi, 2020. "Monetary and Fiscal Policies in Times of Large Debt: Unity is Strength," NBER Working Papers 27112, National Bureau of Economic Research, Inc.
    11. Camelia Ioana Ucenic & Laura Bacali, 2008. "The Impact of the Advance of SME's for the Romanian Economy," Working Papers 0804, University of Crete, Department of Economics.
    12. Chafwehé, Boris & Oikonomou, Rigas & Priftis, Romanos & Vogel, Lukas, 2023. "Optimal Monetary Policy with and without Debt," VfS Annual Conference 2023 (Regensburg): Growth and the "sociale Frage" 277596, Verein für Socialpolitik / German Economic Association.
    13. Szabolcs Deák & Paul Levine & Afrasiab Mirza & Joseph Pearlman, 2019. "Designing Robust Monetary Policy Using Prediction Pools," School of Economics Discussion Papers 1219, School of Economics, University of Surrey.
    14. Benhabib, Jess & Schmitt-Grohe, Stephanie & Uribe, Martin, 2001. "The Perils of Taylor Rules," Journal of Economic Theory, Elsevier, vol. 96(1-2), pages 40-69, January.
    15. Martin Uribe, 2002. "A Fiscal Theory of Sovereign Risk," NBER Working Papers 9221, National Bureau of Economic Research, Inc.
    16. Willi Semmler & Wenlang Zhang, 2004. "Monetary and Fiscal Policy Interactions in the Euro Area," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 31(2), pages 205-227, June.
    17. Stephanie Schmitt-Grohe & Martin Uribe, 2007. "Optimal simple and implementable monetary and fiscal rules," FRB Atlanta Working Paper 2007-24, Federal Reserve Bank of Atlanta.
    18. John H. Cochrane, 2007. "Determinacy and Identification with Taylor Rules," NBER Working Papers 13410, National Bureau of Economic Research, Inc.
    19. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2002. "Avoiding Liquidity Traps," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 535-563, June.
    20. Saroj Dhital & Pedro Gomis-Porqueras & Joseph H. Haslag, 2020. "Monetary and Fiscal Policy Interactions in a Frictional Model of Money, Nominal Public Debt and Banking," Working Papers 2002, Department of Economics, University of Missouri.
    21. Daria ONORI & Francesco MAGRIS & Antoine LE RICHE, 2017. "Monetary Rules in a Two-Sector Endogenous Growth Model with Cash-in-Advance Constraint," LEO Working Papers / DR LEO 2504, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    22. Francesco Bianchi & Leonardo Melosi, 2017. "The Dire Effects of the Lack of Monetary and Fiscal Coordination," NBER Working Papers 23605, National Bureau of Economic Research, Inc.
    23. Bai, Yuting & Kirsanova, Tatiana, 2013. "Infrequent Fiscal Stabilization," SIRE Discussion Papers 2013-17, Scottish Institute for Research in Economics (SIRE).
    24. Giammarioli, Nicola & Annicchiarico, Barbara & Piergallini, Alessandro, 2006. "Fiscal policy in a monetary economy with capital and finite lifetime," Working Paper Series 661, European Central Bank.
    25. Hao Jin & Junfeng Wang, 2023. "The Effects of a Money-Financed Fiscal Stimulus Under Fiscal Stress," CAEPR Working Papers 2023-006 Classification-E, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    26. David B. Gordon & Eric M. Leeper, 2006. "The Price Level, The Quantity Theory Of Money, And The Fiscal Theory Of The Price Level," Scottish Journal of Political Economy, Scottish Economic Society, vol. 53(1), pages 4-27, February.
    27. Francesco Magris & Daria Onori, 2024. "Taylor and fiscal rules: When do they stabilize the economy?," Post-Print hal-04647696, HAL.
    28. Howard Kung & Gonzalo Morales & Alexandre Corhay, 2017. "Fiscal Discount Rates and Debt Maturity," 2017 Meeting Papers 840, Society for Economic Dynamics.
    29. Andreas Schabert, 2006. "Central Bank Instruments, Fiscal Policy Regimes, and the Requirements for Equilibrium Determinacy," Tinbergen Institute Discussion Papers 06-025/2, Tinbergen Institute.
    30. Bianchi, Francesco & Melosi, Leonardo, 2013. "Escaping the Great Recession," CEPR Discussion Papers 9643, C.E.P.R. Discussion Papers.
    31. Michael Woodford, 1998. "Doing Without Money: Controlling Inflation in a Post-Monetary World," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(1), pages 173-219, January.
    32. Dixon, Huw & Pourpourides, Panayiotis M., 2016. "On imperfect competition with occasionally binding cash-in-advance constraints," Journal of Macroeconomics, Elsevier, vol. 50(C), pages 72-85.
    33. Gustavo Iglésias, 2020. "Endogenous Growth and Monetary Policy: How Do Interest-Rate Feedback Rules Shape Nominal and Real Transitional Dynamics?," Working Papers w202003, Banco de Portugal, Economics and Research Department.
    34. Zhiming Fu & Antoine Le Riche, 2022. "Public spending, monetary policy and macroeconomic instability," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 24(3), pages 580-608, June.
    35. Antoine Le Riche & Francesco Magris & Daria Onori, 2020. "Monetary rules in a two-sector endogenous growth model," Post-Print hal-03532486, HAL.
    36. Yoshiyasu Ono, 2008. "Determinacy of Equilibrium under Various Phillips Curves," ISER Discussion Paper 0706, Institute of Social and Economic Research, The University of Osaka.
    37. Charles T. Carlstrom & Timothy S. Fuerst, 2001. "Real indeterminacy in monetary models with nominal interest rate distortions: the problem with inflation targets," Working Papers (Old Series) 9818R, Federal Reserve Bank of Cleveland.
    38. Giorgio Fagiolo & Andrea Roventini, 2016. "Macroeconomic Policy in DSGE and Agent-Based Models Redux: New Developments and Challenges Ahead," LEM Papers Series 2016/17, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    39. Dupor, Bill, 2000. "Exchange rates and the fiscal theory of the price level," Journal of Monetary Economics, Elsevier, vol. 45(3), pages 613-630, June.
    40. Dhital, Saroj & Gomis-Porqueras, Pedro & Haslag, Joseph H., 2021. "Monetary and fiscal policy interactions in a frictional model of fiat money, nominal public debt and banking," European Economic Review, Elsevier, vol. 139(C).
    41. Giorgio Fagiolo & Andrea Roventini, 2012. "Macroeconomic Policy in DSGE and Agent-Based Models," Working Papers hal-04141079, HAL.
    42. Schabert, Andreas & von Thadden, Leopold, 2006. "Distortionary taxation, debt, and the price level," Working Paper Series 577, European Central Bank.
    43. Francesco Bianchi & Leonardo Melosi, 2022. "Inflation as a Fiscal Limit," Working Paper Series WP 2022-37, Federal Reserve Bank of Chicago.
    44. Ms. Garima Vasishtha & Mr. Taimur Baig & Mr. Manmohan S. Kumar & Ms. Edda Zoli, 2006. "Fiscal and Monetary Nexus in Emerging Market Economies: How Does Debt Matter?," IMF Working Papers 2006/184, International Monetary Fund.
    45. Michael Woodford, 2001. "Fiscal Requirements for Price Stability," NBER Working Papers 8072, National Bureau of Economic Research, Inc.
    46. Ragna Alstadheim & Dale Henderson, 2006. "Price-level determinacy, lower bounds on the nominal interest rate, and liquidity traps," Working Paper 2006/03, Norges Bank.
    47. G. Fagiolo & A. Roventini, 2009. "On the Scientific Status of Economic Policy: A Tale of Alternative Paradigms," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 6.
    48. Giovanni Dosi & Andrea Roventini, 2019. "More is Different ... and Complex! The Case for Agent-Based Macroeconomics," LEM Papers Series 2019/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    49. Benigno, Pierpaolo, 2017. "A Central Bank Theory of Price Level Determination," CEPR Discussion Papers 11966, C.E.P.R. Discussion Papers.
    50. Eric M. Leeper, 2009. "Anchors Away: How Fiscal Policy Can Undermine the Taylor Principle," NBER Working Papers 15514, National Bureau of Economic Research, Inc.
    51. Nandi, Aurodeep, 2019. "Fiscal deficit targeting alongside flexible inflation targeting: India’s fiscal policy transmission," Journal of Asian Economics, Elsevier, vol. 63(C), pages 1-18.
    52. Kevin X.D. Huang & Qinglai Meng & Jianpo Xue, 2019. "Capital Income Taxation and Aggregate Instability," Vanderbilt University Department of Economics Working Papers 19-00007, Vanderbilt University Department of Economics.
    53. Bergin, Paul R., 2000. "Fiscal solvency and price level determination in a monetary union," Journal of Monetary Economics, Elsevier, vol. 45(1), pages 37-53, February.
    54. Jess Benhabib & Stephanie Schmitt-Grohé & Martín Uribe, 2002. "Chaotic Interest-Rate Rules," American Economic Review, American Economic Association, vol. 92(2), pages 72-78, May.
    55. Barbara Annicchiarico & Nicola Giammaroli & Alessandro Piergallini, 2011. "Budgetary Policies in a DSGE Model with Finite Horizons," CEIS Research Paper 207, Tor Vergata University, CEIS, revised 12 Jul 2011.
    56. Andreas Schabert & Leopold Von Thadden, 2009. "Distortionary Taxation, Debt, and the Price Level," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(1), pages 159-188, February.
    57. Minford, Patrick & Fan, Jingwen, 2010. "Can the Fiscal Theory of the price level explain UK inflation in the 1970s?," CEPR Discussion Papers 7630, C.E.P.R. Discussion Papers.
    58. Francesco Bianchi & Leonardo Melosi, 2013. "Dormant Shocks and Fiscal Virtue," PIER Working Paper Archive 13-032, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    59. Ikram Benheddi & Mohammed Kamel Si, 2023. "The Effects of Fiscal Dominance on Monetary Policies in Algeria Amidst COVID-19," Zagreb International Review of Economics and Business, Sciendo, vol. 26(2), pages 77-96.
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    65. Zhang, Lingxiang, 2013. "Modeling China's inflation dynamics: An MRSTAR approach," Economic Modelling, Elsevier, vol. 31(C), pages 440-446.
    66. Hannes Malmberg & Erik Öberg, 2021. "Price‐Level Determination When Tax Payments Are Required in Money," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(2), pages 621-644, April.
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    68. Meng, Qinglai, 2002. "Monetary policy and multiple equilibria in a cash-in-advance economy," Economics Letters, Elsevier, vol. 74(2), pages 165-170, January.
    69. Magill, Michael & Quinzii, Martine, 2014. "Anchoring expectations of inflation," Journal of Mathematical Economics, Elsevier, vol. 50(C), pages 86-105.
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    74. Gerasimos T. Soldatos, 2021. "In/Estabilidad bajo el impuesto sobre la renta ideal y el impuesto sobre el consumo ideal," Cuadernos de Economía - Spanish Journal of Economics and Finance, Asociación Cuadernos de Economía, vol. 44(124), pages 33-42, Enero.
    75. Escañuela Romana, Ignacio, 2016. "Randomness, Determinism and Undecidability in the Economic cycle Theory," MPRA Paper 74646, University Library of Munich, Germany.
    76. Pitterle, Ingo & Steffen, Dirk, 2004. "Welfare Effects of Fiscal Policy under Alternative Exchange Rate Regimes : The Role of the Scale Variable of Money Demand," Tübinger Diskussionsbeiträge 284, University of Tübingen, School of Business and Economics.
    77. David Miller, 2014. "Commitment versus Discretion in a Political Economy Model of Fiscal and Monetary Policy Interaction," 2014 Meeting Papers 80, Society for Economic Dynamics.
    78. Elisa Newby, 2009. "The Suspension of the Gold Standard as Sustainable Monetary Policy," CDMA Conference Paper Series 0907, Centre for Dynamic Macroeconomic Analysis.
    79. Batini, Nicoletta & Levine, Paul & Pearlman, Joseph, 2009. "Estabilización óptima del tipo de cambio en una economía dolarizada con meta inflacionaria," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 16, pages 37-82.
    80. Eric M. Leeper, 2009. "Anchors Away: How Fiscal Policy Can Undermine “Good” Monetary Policy," CAEPR Working Papers 2009-021, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    81. António Afonso, 2002. "Disturbing the fiscal theory of the price level: Can it fit the eu-15?," 10th International Conference on Panel Data, Berlin, July 5-6, 2002 B4-3, International Conferences on Panel Data.
    82. David R. Stockman, 2003. "Sunspots in a Cash-in-Advance Model: A Quantitative Assessment," Working Papers 03-12, University of Delaware, Department of Economics.
    83. Maik Heinemann, 2003. "Indeterminacy and interest rate rules: The role of fiscal policy," Computing in Economics and Finance 2003 55, Society for Computational Economics.
    84. Benigno, Pierpaolo, 2016. "Designing Central Banks for Inflation Stability," CEPR Discussion Papers 11402, C.E.P.R. Discussion Papers.
    85. Vadim Elenev & Tim Landvoigt & Patrick J. Shultz & Stijn Van Nieuwerburgh, 2021. "Can Monetary Policy Create Fiscal Capacity?," NBER Working Papers 29129, National Bureau of Economic Research, Inc.
    86. Nicoletta Batini & Joseph Pearlman, 2002. "Too Much Too Soon: Instability and Indeterminacy with Forward-Looking Rules," Discussion Papers 08, Monetary Policy Committee Unit, Bank of England.
    87. Kamal, Mona, 2011. "Bayesian Estimation of Dynamic Stochastic General Equilibrium Model Using UK Data," MPRA Paper 28988, University Library of Munich, Germany.
    88. Jin, Hao & Wang, Junfeng, 2024. "The effects of a money-financed fiscal stimulus under fiscal stress," Journal of Macroeconomics, Elsevier, vol. 81(C).
    89. Giovanni Di Bartolomeo & Marco Manzo, 2010. "Fiscal Policy Under Balanced Budget And Indeterminacy: A New Keynesian Perspective," Scottish Journal of Political Economy, Scottish Economic Society, vol. 57(4), pages 455-472, September.
    90. Francesco Bianchi & Leonardo Melosi & Anna Rogantini Picco, 2022. "Who is Afraid of Eurobonds?," Working Paper Series WP 2022-43, Federal Reserve Bank of Chicago.
    91. Saroj Bhattarai & Jae Won Lee & Choongryul Yang, 2023. "Redistribution and the monetary‐fiscal policy mix," Quantitative Economics, Econometric Society, vol. 14(3), pages 817-853, July.
    92. Szabolcs Deak & Paul Levine & Afrasiab Mirza & Son Pham, 2023. "Negotiating the Wilderness of Bounded Rationality through Robust Policy," School of Economics Discussion Papers 0223, School of Economics, University of Surrey.
    93. Bennett T. McCallum, 2003. "Is the Fiscal Theory of the Price Level Learnable?," NBER Working Papers 9961, National Bureau of Economic Research, Inc.
    94. Antoine Le Riche & Francesco Magris & Antoine Parent, 2016. "Liquidity Trap and Stability of Taylor Rules," Working Papers halshs-01313002, HAL.
    95. Giorgio Fagiolo & Andrea Roventini, 2016. "Macroeconomic Policy in DGSE and Agent-Based Models Redux," Working Papers hal-03459348, HAL.
    96. Escañuela Romana, Ignacio, 2016. "Azar, Determinismo e Indecidibilidad en la Teoría del Ciclo Económico [Randomness, Determinism and Undecidability in the Business Cycle Theory]," MPRA Paper 72978, University Library of Munich, Germany.
    97. Gauti B. Eggertsson & Michael Woodford, 2003. "The Zero Bound on Interest Rates and Optimal Monetary Policy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(1), pages 139-235.
    98. Chang Wen-ya & Tsai Hsueh-fang & Chang Juin-jen & Lin Hsieh-yu, 2018. "Interest rate rules and equilibrium (in)determinacy in a small open economy: the role of internationally traded capital," The B.E. Journal of Macroeconomics, De Gruyter, vol. 18(2), pages 1-18, June.
    99. Matthew B. Canzoneri & Robert E. Cumby & Behzad T. Diba, 1998. "Is the Price Level Determined by the Needs of Fiscal Solvency?," NBER Working Papers 6471, National Bureau of Economic Research, Inc.
    100. Schabert, Andreas, 2001. "Interest Rate Policy and the Price Puzzle in a Quantitative Business Cycle Model," Economics Series 95, Institute for Advanced Studies.
    101. Ming-fu Shaw & Shu-hua Chen & Ching-chong Lai & Juin-jen Chang, 2004. "Interest Rate Rules, Target Policies, and Endogenous Economic Growth in an Open Economy," IEAS Working Paper : academic research 04-A004, Institute of Economics, Academia Sinica, Taipei, Taiwan.
    102. Giannoni, Marc P., 2002. "Does Model Uncertainty Justify Caution? Robust Optimal Monetary Policy In A Forward-Looking Model," Macroeconomic Dynamics, Cambridge University Press, vol. 6(1), pages 111-144, February.
    103. Naeem Akram* & Syed Imran RAIS & Ihtsham Ul Haq PADDA**, 2011. "Synthesis of the Fiscal and Monetary Policies in Price Level Determination: Evidence from Pakistan," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 21, pages 37-52.
    104. Szabolcs Deak & Paul Levine & Afrasiab Mirza & Joseph Pearlman, 2021. "Is Price Level Targeting a Robust Monetary Rule?," Discussion Papers 2104, University of Exeter, Department of Economics.
    105. Annicchiarico Barbara & Marini Giancarlo & Piergallini Alessandro, 2008. "Monetary Policy and Fiscal Rules," The B.E. Journal of Macroeconomics, De Gruyter, vol. 8(1), pages 1-42, February.
    106. Maravalle, Alessandro & Claeys, Peter, 2012. "Boom–bust cycles and procyclical fiscal policy in a small open economy," Journal of Policy Modeling, Elsevier, vol. 34(5), pages 735-754.
    107. Alessandro Piergallini, 2006. "Fiscal Deficits, Taylor Rules, and Price Dynamics," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 34(4), pages 395-403, December.
    108. Canzoneri, Matthew B. & Diba, Behzad T., 2005. "Interest rate rules and price determinacy: The role of transactions services of bonds," Journal of Monetary Economics, Elsevier, vol. 52(2), pages 329-343, March.
    109. Alessandro Maravalle & Peter Claeys, 2010. "Fiscal policy and economic stability: does PIGS stand for Procyclicality In Government Spending?," IREA Working Papers 201015, University of Barcelona, Research Institute of Applied Economics, revised 2010.
    110. Maryam Mirfatah & Vasco J. Gabriel & Paul Levine, 2021. "Imperfect Exchange Rate Pass-through: Empirical Evidence and Monetary Policy Implications," School of Economics Discussion Papers 0321, School of Economics, University of Surrey.
    111. Charles T. Carlstrom & Timothy S. Fuerst, 2000. "Forward-looking versus backward-looking Taylor rules," Working Papers (Old Series) 0009, Federal Reserve Bank of Cleveland.
    112. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2004. "Chaotic Interest Rate Rules: Expanded Version," NBER Working Papers 10272, National Bureau of Economic Research, Inc.
    113. Charles de Beauffort & Boris Chafwehé & Rigas Oikonomou, 2024. "Managing the inflation-output trade-off with public debt portfolios," Working Paper Research 450, National Bank of Belgium.
    114. Ragna Alstadheim, 2013. "How New Keynesian is the US Phillips curve?," Working Paper 2013/25, Norges Bank.
    115. Chadha, J.S. & Corrado, L., 2007. "On the Determinacy of Monetary Policy under Expectational Errors," Cambridge Working Papers in Economics 0722, Faculty of Economics, University of Cambridge.
    116. Chang, Wen-ya & Tsai, Hsueh-fang & Chang, Juin-jen, 2011. "Interest rate rules and macroeconomic stability with transaction costs," International Review of Economics & Finance, Elsevier, vol. 20(4), pages 744-749, October.
    117. Mehrab Kiarsi, 2022. "Tax smoothing and optimal inflation persistence in RBC monetary models revisited," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(5), pages 465-486, November.
    118. Galvis Ciro, Juan Camilo & Bedoya Ospina, Juan Guillermo & Loaiza Maya, Rubén Albeiro, 2011. "Una regla de política fiscal óptima para la economía colombiana: aproximación desde un modelo de equilibrio general dinámico y estocástico," Revista Lecturas de Economía, Universidad de Antioquia, CIE, November.
    119. Gauti B. Eggertsson & Michael Woodford, 2003. "Optimal Monetary Policy in a Liquidity Trap," NBER Working Papers 9968, National Bureau of Economic Research, Inc.
    120. Tomás Marinozzi & Mariano Fernández, 2020. "Una breve revisón sobre la literatura de las metas de inflación," CEMA Working Papers: Serie Documentos de Trabajo. 755, Universidad del CEMA.
    121. Marco Lorusso & Francesco Ravazzolo & Claudia Udroiu, 2024. "Fiscal stimuli: Monetary versus Fiscal Financing," BEMPS - Bozen Economics & Management Paper Series BEMPS105, Faculty of Economics and Management at the Free University of Bozen.
    122. Linnemann, Ludger, 2005. "Can raising interest rates increase inflation?," Economics Letters, Elsevier, vol. 87(3), pages 307-311, June.
    123. Bennett T. McCallum, 1999. "Theoretical Issues Pertaining to Monetary Unions," NBER Working Papers 7393, National Bureau of Economic Research, Inc.
    124. Lai, Ching-chong & Chen, Shu-hua & Shaw, Ming-fu, 2005. "Nominal income targeting versus money growth targeting in an endogenously growing economy," Economics Letters, Elsevier, vol. 86(3), pages 359-366, March.
    125. Eric M. Leeper, 2011. "Anchors Aweigh: How Fiscal Policy Can Undermine “Good” Monetary Policy," Central Banking, Analysis, and Economic Policies Book Series, in: Luis Felipe Céspedes & Roberto Chang & Diego Saravia (ed.),Monetary Policy under Financial Turbulence, edition 1, volume 16, chapter 11, pages 411-453, Central Bank of Chile.
    126. Olivo, Victor, 2015. "Friedman, Monetarism and Quantitative Easing," MPRA Paper 69205, University Library of Munich, Germany.

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    Cited by:

    1. Francisco Venegas-Martinez & Ambrosio Ortiz-Ramirez & Francisco Ortiz-Arango, 2012. "Temporary stabilization: a Frechet-Weibullextreme value distribution approach," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 9(1), pages 35-55, Enero-Jun.
    2. Steven B. Kamin & Marc Klau, 1997. "Some multi-country evidence on the effects of real exchange rates on output," BIS Working Papers 48, Bank for International Settlements.
    3. Buffie, Edward F., 1999. "Optimal trade liberalization and the welfare costs of imperfect credibility," Journal of International Economics, Elsevier, vol. 47(2), pages 371-398, April.
    4. Kamin, Steven B., 2001. "Real exchange rates and inflation in exchange-rate-based stabilizations: an empirical examination," Journal of Development Economics, Elsevier, vol. 64(1), pages 237-253, February.
    5. Fugazza, Marco & Fiess, Norbert M. & Maloney, William, 2002. "Exchange rate appreciations, labor market rigidities, and informality," Policy Research Working Paper Series 2771, The World Bank.
    6. Guillermo A. Calvo & Enrique G. Mendoza, 1996. "Mexico's balance-of-payments crisis: a chronicle of death foretold," International Finance Discussion Papers 545, Board of Governors of the Federal Reserve System (U.S.).
    7. Lahiri, Amartya, 2001. "Exchange rate based stabilizations under real frictions: The role of endogenous labor supply," Journal of Economic Dynamics and Control, Elsevier, vol. 25(8), pages 1157-1177, August.
    8. Martin Uribe, 1996. "The Tequila effect: theory and evidence from Argentina," International Finance Discussion Papers 552, Board of Governors of the Federal Reserve System (U.S.).
    9. Venegas-Martinez, Francisco, 2001. "Temporary stabilization: A stochastic analysis," Journal of Economic Dynamics and Control, Elsevier, vol. 25(9), pages 1429-1449, September.
    10. Kamin, Steve B. & Rogers, John H., 2000. "Output and the real exchange rate in developing countries: an application to Mexico," Journal of Development Economics, Elsevier, vol. 61(1), pages 85-109, February.
    11. Alexandre Barros da Cunha, 2003. "Optimal Exchange Rate Policy, Optimal Incomplete Taxation and Business Cycles," Anais do XXXI Encontro Nacional de Economia [Proceedings of the 31st Brazilian Economics Meeting] b16, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    12. Cunha, Alexandre B., 2002. "Optimal Exchange Rate Policy and Business Cycles," Insper Working Papers wpe_19, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.
    13. Enrica Detragiache & A. Javier Hamann, 1999. "Exchange Rate‐Based Stabilization In Western Europe: Greece, Ireland, Italy, And Portugal," Contemporary Economic Policy, Western Economic Association International, vol. 17(3), pages 358-369, July.
    14. Marla Ripoll, 2005. "Real Exchange Rate Targeting, Macroeconomic Performance and Sectoral Income Distribution in Developing Countries," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 14(2), pages 167-196.
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    Cited by:

    1. Fabrizio Coricelli & Boštjan Jazbec & Igor Masten, 2004. "L'influence du régime de change sur l'inflation dans les pays adhérents," Economie & Prévision, La Documentation Française, vol. 163(2), pages 51-61.
    2. James B. Bullard & Eric Schaling, 2006. "Monetary policy, determinacy, and learnability in a two-block world economy," Working Papers 2006-038, Federal Reserve Bank of St. Louis.
    3. Bullard, James & Schaling, Eric, 2006. "Monetary policy, determinacy, and learnability in the open economy," Working Paper Series 611, European Central Bank.
    4. Konstantin Styrin & Oleg Zamulin, 2012. "A Real Exchange Rate Based Phillips Curve," Working Papers w0179, Center for Economic and Financial Research (CEFIR).
    5. Mr. Marco Airaudo & Mr. Edward F Buffie & Luis-Felipe Zanna, 2016. "Inflation Targeting and Exchange Rate Management In Less Developed Countries," IMF Working Papers 2016/055, International Monetary Fund.
    6. Charles T. Carlstrom & Timothy Fuerst, 2007. "Asset Prices, Nominal Rigidities, and Monetary Policy," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 10(2), pages 256-275, April.
    7. Fabrizio Coricelli & Bo??tjan Jazbec & Igor Masten, 2004. "Exchange Rate Policy and Inflation in Acceding Countries: The Role of Pass-through," William Davidson Institute Working Papers Series 2004-674, William Davidson Institute at the University of Michigan.
    8. Lim, G.C. & McNelis, Paul D., 2008. "Computational Macroeconomics for the Open Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262123061, December.
    9. Kiyutsevskaya, Anna (Киюцевская, Анна) & Narkevich, Sergei (Наркевич, Сергей) & Trunin, Pavel (Трунин, Павел), 2016. "The Transformation of the Role and Tasks of the Central Bank (Monetary Authorities) in the Modern Economy [Трансформация Роли И Задач Центральных Банков (Монетарных Властей) В Современной Экономике," Working Papers 2136, Russian Presidential Academy of National Economy and Public Administration.
    10. Shu Lin & Kang Shi & Haichun Ye, 2018. "Online Appendix to "Exchange rate volatility and trade: The role of credit constraints"," Online Appendices 16-243, Review of Economic Dynamics.
    11. Coricelli, Fabrizio & Jazbec, Boštjan & Masten, Igor, 2003. "Exchange Rate Pass-Through in Candidate Countries," CEPR Discussion Papers 3894, C.E.P.R. Discussion Papers.
    12. Luis-Felipe Zanna, 2004. "PPP rules, macroeconomic (In)stability and learning," International Finance Discussion Papers 814, Board of Governors of the Federal Reserve System (U.S.).
    13. Piersanti, Giovanni, 2012. "The Macroeconomic Theory of Exchange Rate Crises," OUP Catalogue, Oxford University Press, number 9780199653126, Decembrie.
    14. Luis-Felipe Zanna, 2009. "Ppp Exchange Rate Rules, Macroeconomic (In)Stability, And Learning," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(4), pages 1103-1128, November.
    15. Airaudo, Marco, 2014. "Currency substitution, risk premia and the Taylor principle," Journal of Economic Dynamics and Control, Elsevier, vol. 48(C), pages 202-217.
    16. Kirill Sosunov & Oleg Zamulin, 2007. "Monetary Policy in an Economy Sick with Dutch Disease," Working Papers w0101, Center for Economic and Financial Research (CEFIR).
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    21. Coricelli, Fabrizio & Jazbec, Bostjan & Masten, Igor, 2006. "Exchange rate pass-through in EMU acceding countries: Empirical analysis and policy implications," Journal of Banking & Finance, Elsevier, vol. 30(5), pages 1375-1391, May.

  72. Martin Uribe, 1995. "Hysteresis in a simple model of currency substitution," International Finance Discussion Papers 509, Board of Governors of the Federal Reserve System (U.S.).

    Cited by:

    1. Madison, Florian, 2024. "A microfounded approach to currency substitution and government policy," Journal of Economic Theory, Elsevier, vol. 219(C).
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    4. Yinusa, D. Olalekan, 2009. "Macroeconomic Fluctuations and Deposit Dollarization in Sub-Saharan Africa: Evidence from Panel Data," MPRA Paper 16259, University Library of Munich, Germany, revised 2009.
    5. Lebre de Freitas, M., 2004. "The dynamics of inflation and currency substitution in a small open economy," Journal of International Money and Finance, Elsevier, vol. 23(1), pages 133-142, February.
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    9. Miguel LEBRE DE FREITAS, 2010. "Currency Substitution, Portfolio Diversification and Money Demand," EcoMod2004 330600090, EcoMod.
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    13. Polterovich, Victor, 2007. "Institutional Trap," MPRA Paper 20595, University Library of Munich, Germany.
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    33. Lya Paola Sierra Suárez & Diana Maribel Lozano Baquero, 2010. "¿Qué sabemos sobre la Dolarización y sus efectos en las Economías Latinoamericanas que la adoptaron?," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, June.
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    40. Polterovich, Victor, 2004. "Институциональные Ловушки: Есть Ли Выход? [Institutional Traps: Is There a Way Out?]," MPRA Paper 22071, University Library of Munich, Germany.
    41. Yoskowitz, David W. & Pisani, Michael J., 2007. "Risk and reward: Currency substitution and acceptance of the Mexican peso by firms in the United States southern frontier," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(3), pages 422-434, July.
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    43. Zhang, Cathy, 2013. "An Information-Based Theory of International Currency," MPRA Paper 42114, University Library of Munich, Germany.
    44. Camera, Gabriele & Craig, Ben & Waller, Christopher J., 2004. "Currency competition in a fundamental model of money," Journal of International Economics, Elsevier, vol. 64(2), pages 521-544, December.
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    46. Pere Gomis-Porqueras & Carlos Serrano & Alejandro Somuano, 2005. "Dollar-denominated accounts in Latin America during the 1990s," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 29(2), pages 259-270, June.
    47. Peter Bernholz, 2005. "Die Bedeutung der Geschichte für die Wirtschafts‐wissenschaften und der ökonomischen Theorie für die Geschichtsforschung," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(2), pages 131-150, May.
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    49. Tsutomu Watanabe & Tomoyoshi Yabu, 2019. "How Large is the Demand for Money at the ZLB? Evidence from Japan," CARF F-Series CARF-F-465, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    50. Mr. Robert Rennhack & Mr. Masahiro Nozaki, 2006. "Financial Dollarization in Latin America," IMF Working Papers 2006/007, International Monetary Fund.
    51. Uribe, Martin, 2003. "Real exchange rate targeting and macroeconomic instability," Journal of International Economics, Elsevier, vol. 59(1), pages 137-159, January.
    52. Kyriakos C. Neanidis & Christos S. Savva, 2009. "Financial Dollarization: Short-Run Determinants in Transition Economies," Centre for Growth and Business Cycle Research Discussion Paper Series 113, Economics, The University of Manchester.
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    77. Angela Ifeanyi Ujunwa & Augustine Ujunwa & Emmanuel Onah & Nnenna Georgina Nwonye & Onyedikachi David Chukwunwike, 2021. "Extending the determinants of currency substitution in Nigeria: Any role for financial innovation?," South African Journal of Economics, Economic Society of South Africa, vol. 89(4), pages 590-607, December.
    78. Martin Brown & Ralph De Haas & Vladimir Sokolov, 2013. "Regional inflation and financial dollarisation," Working Papers 163, European Bank for Reconstruction and Development, Office of the Chief Economist.
    79. Airaudo, Marco, 2012. "Endogenous Dollarization, Sovereign Risk Premia and the Taylor Principle," School of Economics Working Paper Series 2012-11, LeBow College of Business, Drexel University.
    80. Miguel Lebre de Freitas, 2003. "Revisiting Dollarisation Hysteresis: Evidence from Bolivia, Turkey and Indonesia," NIPE Working Papers 12/2003, NIPE - Universidade do Minho.
    81. Kamin, Steven B. & Ericsson, Neil R., 2003. "Dollarization in post-hyperinflationary Argentina," Journal of International Money and Finance, Elsevier, vol. 22(2), pages 185-211, April.
    82. Kari Heimonen, 2006. "The Dynamics of Currency Substitution: Evidence from UK Foreign Currency Balances," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 5(1), pages 61-74, April.
    83. Windischbauer, Ulrich, 2016. "Strengthening the role of local currencies in EU candidate and potential candidate countries," Occasional Paper Series 170, European Central Bank.
    84. Mr. Marco Terrones & Mr. Luis Catão, 2000. "Determinants of Dollarization: The Banking Side," IMF Working Papers 2000/146, International Monetary Fund.

Articles

  1. Uribe, Martin, 2020. "Financing COVID-19 Deficits in Fiscally Dominant Economies: Is The Monetarist Arithmetic Unpleasant?," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 24(4), pages 417-440, December.

    Cited by:

    1. Nicolás Oviedo, 2022. "Deficit fiscal y tipo de cambio fijo: racionalizando una combinación insostenible," Young Researchers Working Papers 3, Universidad de San Andres, Departamento de Economia, revised Oct 2022.
    2. Corsetti, Giancarlo & Maćkowiak, Bartosz, 2023. "Gambling to preserve price (and fiscal) stability," Working Paper Series 2844, European Central Bank.
    3. Daniel DĂIANU & Alexie ALUPOAIEI & Matei KUBINSCHI, 2022. "Revisiting Limits and Pitfalls of QE in the Emerging Markets," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 5-25, April.

  2. Arifovic, Jasmina & Schmitt-Grohé, Stephanie & Uribe, Martín, 2018. "Learning to live in a liquidity trap," Journal of Economic Dynamics and Control, Elsevier, vol. 89(C), pages 120-136.
    See citations under working paper version above.
  3. Seunghoon Na & Stephanie Schmitt-Grohé & Martín Uribe & Vivian Yue, 2018. "The Twin Ds: Optimal Default and Devaluation," American Economic Review, American Economic Association, vol. 108(7), pages 1773-1819, July.
    See citations under working paper version above.
  4. Fernández, Andrés & Schmitt-Grohé, Stephanie & Uribe, Martín, 2017. "World shocks, world prices, and business cycles: An empirical investigation," Journal of International Economics, Elsevier, vol. 108(S1), pages 2-14.
    See citations under working paper version above.
  5. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Adjustment to small, large, and sunspot shocks in open economies with stock collateral constraints," Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia, vol. 35(82), pages 2-9, April.
    See citations under working paper version above.
  6. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Liquidity Traps and Jobless Recoveries," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(1), pages 165-204, January.

    Cited by:

    1. Piergallini, Alessandro, 2020. "Is Fiscal Austerity Really Self-Defeating?," MPRA Paper 112071, University Library of Munich, Germany.
    2. He Nie & Jordan Roulleau-Pasdeloup, 2022. "Online Appendix to "The promises (and perils) of control-contingent forward guidance"," Online Appendices 21-153, Review of Economic Dynamics.
    3. Sergio Salas, 2022. "A liquidity crunch in an endogenous growth model with human capital," Southern Economic Journal, John Wiley & Sons, vol. 88(3), pages 1199-1238, January.
    4. Pablo Cuba-Borda & Sanjay R. Singh, 2022. "Understanding Persistent ZLB: Theory and Assessment," Working Papers 346, University of California, Davis, Department of Economics.
    5. Wu, Zhe, 2022. "Government Expenditures in a Small Open Economy Model : The Role of Credit Constraint," Warwick-Monash Economics Student Papers 42, Warwick Monash Economics Student Papers.
    6. Lucio Gobbi & Ronny Mazzocchi & Roberto Tamborini, 2022. "Monetary policy, rational confidence, and Neo‐Fisherian depressions," Metroeconomica, Wiley Blackwell, vol. 73(4), pages 1179-1199, November.
    7. S. Boragan Aruoba & Luigi Bocola & Frank Schorfheide, 2013. "Assessing DSGE model nonlinearities," Working Papers 13-47, Federal Reserve Bank of Philadelphia.
    8. S. BoraÄŸan Aruoba & Pablo Cuba-Borda & Frank Schorfheide, 2012. "Macroeconomic Dynamics Near the ZLB: A Tale of Two Countries," PIER Working Paper Archive 14-035, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 19 Jun 2014.
    9. Hashimoto, Ken-ichi & Ono, Yoshiyasu & Schlegl, Matthias, 2020. "Structural unemployment, underemployment, and secular stagnation," ISER Discussion Paper 1088rrr, Institute of Social and Economic Research, The University of Osaka, revised Jan 2023.
    10. Dupor, Bill & Li, Jingchao & Li, Rong, 2019. "Sticky wages, private consumption, and Fiscal multipliers," Journal of Macroeconomics, Elsevier, vol. 62(C).
    11. Gross, Isaac & Hansen, James, 2021. "Optimal policy design in nonlinear DSGE models: An n-order accurate approximation," European Economic Review, Elsevier, vol. 140(C).
    12. Kaz Miyagiwa & Yoshiyasu Ono, 2019. "Immigration and Secular Stagnation," ISER Discussion Paper 1054, Institute of Social and Economic Research, The University of Osaka.
    13. Corsetti, Giancarlo & Mavroeidi, Eleonora & Thwaites, Gregory & Wolf, Martin, 2017. "Step away from the zero lower bound: small open economies in a world of secular stagnation," Bank of England working papers 666, Bank of England.
    14. Jonathan Heathcote & Fabrizio Perri, 2015. "Wealth and Volatility," NBER Working Papers 20994, National Bureau of Economic Research, Inc.
    15. Masao Fukui & Emi Nakamura & Jón Steinsson, 2023. "Women, Wealth Effects, and Slow Recoveries," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(1), pages 269-313, January.
    16. Siddhartha Chattopadhyay, 2021. "The Neo-Fisherianism to Escape Zero Lower Bound," International Symposia in Economic Theory and Econometrics, in: Environmental, Social, and Governance Perspectives on Economic Development in Asia, volume 29, pages 1-19, Emerald Group Publishing Limited.
    17. Bill Dupor & Jingchao Li & Rong Li, 2017. "Sticky Wages, Monetary Policy and Fiscal Policy Multipliers," Working Papers 2017-7, Federal Reserve Bank of St. Louis.
    18. Stefan Avdjiev & Valentina Bruno & Catherine Koch, 2018. "The dollar exchange rate as a global risk factor: evidence from investment," BIS Working Papers 695, Bank for International Settlements.
    19. Jarociński, Marek & Maćkowiak, Bartosz, 2017. "Monetary-fiscal interactions and the euro area's malaise," Working Paper Series 2072, European Central Bank.
    20. Masako Ikefuji & Yoshiyasu Ono, 2020. "Environmental policies in a stagnant economy," ISER Discussion Paper 1110, Institute of Social and Economic Research, The University of Osaka.
    21. Felici, Marco & Kenny, Geoff & Friz, Roberta, 2022. "Consumer savings behaviour at low and negative interest rates," Working Paper Series 2736, European Central Bank.
    22. Yoon J. Jo & Sarah Zubairy, 2022. "State Dependent Government Spending Multipliers: Downward Nominal Wage Rigidity and Sources of Business Cycle Fluctuations," NBER Working Papers 30025, National Bureau of Economic Research, Inc.
    23. Kaz Miyagiwa & Yoshiyasu Ono, 2019. "Immigration and Secular Stagnation," ISER Discussion Paper 1054r, Institute of Social and Economic Research, The University of Osaka, revised Jun 2019.
    24. Gerhard Illing & Yoshiyasu Ono & Matthias Schlegl, 2016. "Credit Booms, Debt Overhang and Secular Stagnation," ISER Discussion Paper 0988r, Institute of Social and Economic Research, The University of Osaka, revised Nov 2017.
    25. Yoshiyasu Ono & Katsunori Yamada, 2018. "Difference or Ratio: Implications of Status Preference on Stagnation," Australian Economic Papers, Wiley Blackwell, vol. 57(3), pages 346-362, September.
    26. Hafsa Hina, 2024. "Unveiling the Neo-Fisher Effect: Evidence from Pakistan," Journal of South Asian Development, , vol. 19(3), pages 387-407, December.
    27. Jan Willem van den End & Paul Konietschke & Anna Samarina & Irina M. Stanga, 2020. "Macroeconomic reversal rate: evidence from a nonlinear IS-curve," Working Papers 684, DNB.
    28. Paker, Meredith M., 2023. "The jobless recovery after the 1980–1981 British recession," Explorations in Economic History, Elsevier, vol. 90(C).
    29. Mikhail Mamonov & Anna Pestova, 2021. "Credit Supply Shocks and Household Defaults," CERGE-EI Working Papers wp691, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    30. van den End, Jan Willem & Konietschke, Paul & Samarina, Anna & Stanga, Irina M., 2021. "Macroeconomic reversal rate in a low interest rate environment," Working Paper Series 2620, European Central Bank.
    31. Yangyang Ji, 2021. "Are Technology Shocks More Expansionary at the ZLB?," CESifo Economic Studies, CESifo Group, vol. 67(3), pages 296-317.
    32. Bilbiie, F. O., 2024. "Monetary Policy and Heterogeneity: An Analytical Framework," Janeway Institute Working Papers 2420, Faculty of Economics, University of Cambridge.
    33. Gauti B. Eggertsson & Sanjay R. Singh, 2016. "Log-linear Approximation versus an Exact Solution at the ZLB in the New Keynesian Model," NBER Working Papers 22784, National Bureau of Economic Research, Inc.
    34. Matthew Knowles, 2023. "Capital Deaccumulation and the Large Persistent Effects of Financial Crises," ECONtribute Discussion Papers Series 218, University of Bonn and University of Cologne, Germany.
    35. Florin O. Bilbiie, 2019. "Optimal Forward Guidance," American Economic Journal: Macroeconomics, American Economic Association, vol. 11(4), pages 310-345, October.
    36. Dennis Wesselbaum, 2016. "Jobless Recoveries: The Interaction between Financial and Search Frictions," Working Papers 1603, University of Otago, Department of Economics, revised Feb 2016.
    37. Sanjay R. Singh & Nicolas Caramp, 2020. "Bond Premium Cyclicality and Liquidity Traps," Working Papers 336, University of California, Davis, Department of Economics.
    38. Nicolas Abad & Teresa Lloyd-Braga & Leonor Modesto, 2019. "The failure of stabilization policy: balanced-budget fiscal rules in the presence of incompressible public expenditures," Working Papers hal-02331811, HAL.
    39. Daisuke Ikeda & Takushi Kurozumi, 2015. "What Makes Post-Financial-Crisis Recoveries So Slow? An Investigation of Implications for Monetary Policy Conduct," Bank of Japan Research Laboratory Series 15-E-2, Bank of Japan.
    40. Michau, Jean-Baptiste, 2019. "Monetary and fiscal policy in a liquidity trap with inflation persistence," Journal of Economic Dynamics and Control, Elsevier, vol. 100(C), pages 1-28.
    41. Siddhartha Chattopadhyay & Taniya Ghosh, 2019. "Taylor rule implementation of the Optimal policy at the zero lower bound: Does the cost channel matter?," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2019-021, Indira Gandhi Institute of Development Research, Mumbai, India.
    42. Martín Uribe, 2018. "The Neo-Fisher Effect: Econometric Evidence from Empirical and Optimizing Models," NBER Working Papers 25089, National Bureau of Economic Research, Inc.
    43. Gauti B. Eggertsson & Marc Giannoni, 2020. "Medium-Term Money Neutrality and the Effective Lower Bound," NBER Working Papers 27669, National Bureau of Economic Research, Inc.
    44. Philip Coyle & Taisuke Nakata, 2019. "Optimal Inflation Target with Expectations-Driven Liquidity Traps," Finance and Economics Discussion Series 2019-036, Board of Governors of the Federal Reserve System (U.S.).
    45. Rodríguez Arosemena, Nicolás, 2018. "The Dominium Mundi Game and the Case for Artificial Intelligence in Economics and the Law," MPRA Paper 90560, University Library of Munich, Germany.
    46. Ryo Horii & Yoshiyasu Ono, 2022. "Financial crisis and slow recovery with Bayesian learning agents," International Journal of Economic Theory, The International Society for Economic Theory, vol. 18(4), pages 578-606, December.
    47. Jordi Galí, 2018. "The State of New Keynesian Economics: A Partial Assessment," NBER Working Papers 24845, National Bureau of Economic Research, Inc.
    48. Murota, Ryu-ichiro, 2022. "The effect of a decline in the world real interest rate on a small open economy experiencing persistent stagnation," Economics Letters, Elsevier, vol. 216(C).
    49. Saito, Makoto & 齊藤, 誠, 2020. "Long-run mild deflation under fiscal unsustainability in Japan," Discussion Paper Series 703, Institute of Economic Research, Hitotsubashi University.
    50. Sangyyup Choi & Jaehun Jeong & Dohyeon Park & Donghoon Yoo, 2023. "News or Animal Spirits? Consumer Confidence and Economic Activity: Redux," Working papers 2023rwp-216, Yonsei University, Yonsei Economics Research Institute.
    51. Olarreaga, Marcelo & Ugarte, Cristian, 2020. "Can export promotion reduce unemployment?," CEPR Discussion Papers 15049, C.E.P.R. Discussion Papers.
    52. Meredith M. Paker, 2020. "The Jobless Recovery After the 1980-1981 UK Recession," Oxford Economic and Social History Working Papers _182, University of Oxford, Department of Economics.
    53. Ken-ichi Hashimoto & Kaz Miyagiwa & Yoshiyasu Ono & Matthias Schlegl, 2024. "Was Keynes right? A reconsideration of the effect of a protective tariff under stagnation," ISER Discussion Paper 1245, Institute of Social and Economic Research, The University of Osaka.
    54. Carnicelli, Lauro, 2018. "Financial shocks and endogenous labor market participation," MPRA Paper 90254, University Library of Munich, Germany.
    55. Katherine A. Moos, 2019. "Neoliberal Redistributive Policy: The US Net Social Wage in the Early Twenty-First Century," Review of Radical Political Economics, Union for Radical Political Economics, vol. 51(4), pages 581-605, December.
    56. Martín Uribe, 2017. "The Neo-Fisher Effect in the United States and Japan," NBER Working Papers 23977, National Bureau of Economic Research, Inc.
    57. Huseyin Gulen & Mihai Ion & Candace E Jens & Stefano Rossi, 2024. "Credit Cycles, Expectations, and Corporate Investment," The Review of Financial Studies, Society for Financial Studies, vol. 37(11), pages 3335-3385.
    58. Ken-ichi Hashimoto & Yoshiyasu Ono, 2019. "A simple aggregate demand analysis with dynamic optimization in a small open economy," ISER Discussion Paper 1061, Institute of Social and Economic Research, The University of Osaka.
    59. Kevin J. Lansing, 2019. "Endogenous Forecast Switching Near the Zero Lower Bound," Working Paper Series 2017-24, Federal Reserve Bank of San Francisco.
    60. Ryoji HIRAGUCHI, 2018. "Stagnation Traps in an Open Economy," Discussion papers 18062, Research Institute of Economy, Trade and Industry (RIETI).
    61. Lasitha R.C. Pathberiya, 2018. "Jobless Recovery, Liquidity Trap, Tight Monetary Policy and the Cost Channel," Discussion Papers Series 591, School of Economics, University of Queensland, Australia.
    62. Platonov, Konstantin, 2024. "Confidence spillovers, financial contagion, and stagnation," Journal of International Money and Finance, Elsevier, vol. 148(C).
    63. H. E. Cha & Raymond Jay Lim, 2024. "Model‐based estimation in monetary policy inertia and it's another possibility," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 29(2), pages 2077-2094, April.
    64. Florin O. Bilbiie, 2022. "Neo-Fisherian Policies and Liquidity Traps," American Economic Journal: Macroeconomics, American Economic Association, vol. 14(4), pages 378-403, October.

  7. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Is Optimal Capital Control Policy Countercyclical in Open Economy Models with Collateral Constraints?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 498-527, August.
    See citations under working paper version above.
  8. Andrés Fernández & Michael W Klein & Alessandro Rebucci & Martin Schindler & Martín Uribe, 2016. "Capital Control Measures: A New Dataset," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 64(3), pages 548-574, August.
    See citations under working paper version above.
  9. Stephanie Schmitt-Grohé & Martín Uribe, 2016. "Downward Nominal Wage Rigidity, Currency Pegs, and Involuntary Unemployment," Journal of Political Economy, University of Chicago Press, vol. 124(5), pages 1466-1514.

    Cited by:

    1. Anne Kathrin Funk & Daniel Kaufmann, 2020. "Do Sticky Wages Matter? New Evidence from Matched Firm-Survey and Register Data," KOF Working papers 20-480, KOF Swiss Economic Institute, ETH Zurich.
    2. Bhattarai, Saroj & Schwartzman, Felipe & Yang, Choongryul, 2021. "Local scars of the US housing crisis," Journal of Monetary Economics, Elsevier, vol. 119(C), pages 40-57.
    3. Eijffinger, Sylvester & Kobielarz, Michal & Uras, Burak, 2018. "Sovereign default, exit and contagion in a monetary union," Other publications TiSEM d1844a19-c4eb-4443-a4c2-5, Tilburg University, School of Economics and Management.
    4. Bofinger, Peter & Feld, Lars P. & Schmidt, Christoph M. & Schnabel, Isabel & Wieland, Volker, 2018. "Vor wichtigen wirtschaftspolitischen Weichenstellungen. Jahresgutachten 2018/19 [Setting the Right Course for Economic Policy. Annual Report 2018/19]," Annual Economic Reports / Jahresgutachten, German Council of Economic Experts / Sachverständigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung, volume 127, number 201819, September.
    5. Caner, Mehmet & Fan, Qingliang & Grennes, Thomas, 2021. "Partners in debt: An endogenous non-linear analysis of the effects of public and private debt on growth," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 694-711.
    6. Alina K. Bartscher & Moritz Kuhn & Moritz Schularick & Ulrike I. Steins, 2020. "Modigliani Meets Minsky: Inequality, Debt, and Financial Fragility in America, 1950-2016," Working Papers Series inetwp124, Institute for New Economic Thinking.
    7. Jinill Kim & Francisco Ruge‐Murcia, 2019. "Extreme Events And Optimal Monetary Policy," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 60(2), pages 939-963, May.
    8. Saktinil Roy & David M. Kemme, 2022. "Are capital inflow bonanzas a common precursor to banking crises? A categorical data analysis," The World Economy, Wiley Blackwell, vol. 45(10), pages 3192-3223, October.
    9. Alessandro Moro, 2021. "Can capital controls promote green investments in developing countries?," Temi di discussione (Economic working papers) 1348, Bank of Italy, Economic Research and International Relations Area.
    10. Masashige Hamano & Francesco Pappadà, 2023. "Exchange Rate Policy and Firm Heterogeneity," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(3), pages 759-790, September.
    11. Ottonello, Pablo & Perez, Diego J. & Varraso, Paolo, 2022. "Are collateral-constraint models ready for macroprudential policy design?," Journal of International Economics, Elsevier, vol. 139(C).
    12. Sushant Acharya & Julien Bengui, 2016. "Liquidity traps, capital flows," Staff Reports 765, Federal Reserve Bank of New York.
    13. Kitano Shigeto & Takaku Kenya, 2018. "Capital controls as a credit policy tool in a small open economy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 18(1), pages 1-19, January.
    14. Atif Mian & Ludwig Straub & Amir Sufi, 2020. "Indebted Demand," CESifo Working Paper Series 8210, CESifo.
    15. Damián Pierri, 2021. "Memory, Multiple Equilibria And Emerging Market Crises," Documentos de trabajo del Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET) 2021-62, Universidad de Buenos Aires, Facultad de Ciencias Económicas, Instituto Interdisciplinario de Economía Política IIEP (UBA-CONICET).
    16. Effrosyni Adamopoulou & Francesco Manaresi & Omar Rachedi & Emircan Yurdagul, 2022. "Minimum Wages and Insurance Within the Firm," CRC TR 224 Discussion Paper Series crctr224_2022_326v3, University of Bonn and University of Mannheim, Germany.
    17. Olivier Jeanne & Anton Korinek, 2010. "Managing Credit Booms and Busts: A Pigouvian Taxation Approach," NBER Working Papers 16377, National Bureau of Economic Research, Inc.
    18. Joseba Martinez & Thomas Philippon & Markus Sihvonen, 2019. "Does a Currency Union Need a Capital Market Union? Risk Sharing via Banks and Markets," NBER Working Papers 26026, National Bureau of Economic Research, Inc.
    19. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric R. Young, 2011. "Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective," Discussion Papers 1512, Centre for Macroeconomics (CFM), revised Feb 2015.
    20. Menna Bizuneh, 2022. "Are We Floating Yet? Duration of Fixed Exchange Rate Regimes," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 48(1), pages 63-89, January.
    21. Michael W. L. Elsby & Gary Solon, 2019. "How Prevalent Is Downward Rigidity in Nominal Wages? International Evidence from Payroll Records and Pay Slips," Journal of Economic Perspectives, American Economic Association, vol. 33(3), pages 185-201, Summer.
    22. Daniel Schaefer & Carl Singleton, 2023. "The Extent of Downward Nominal Wage Rigidity: New Evidence from Payroll Data," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 51, pages 60-76, December.
    23. Clayton, Christopher & Dos Santos, Amanda & Maggiori, Matteo & Schreger, Jesse, 2022. "Internationalizing Like China," Research Papers 4019, Stanford University, Graduate School of Business.
    24. Felipe Benguria & Felipe Saffie & Hidehiko Matsumoto, 2019. "Productivity and Trade Dynamics in Sudden Stops," 2019 Meeting Papers 1378, Society for Economic Dynamics.
    25. Christoph Kaufmann, 2016. "Optimal Fiscal Substitutes for the Exchange Rate in a Monetary Union," Working Paper Series in Economics 86, University of Cologne, Department of Economics.
    26. Sushant Acharya & Keshav Dogra, 2018. "The side effects of safe asset creation," Staff Reports 842, Federal Reserve Bank of New York.
    27. Hashimoto, Ken-ichi & Ono, Yoshiyasu & Schlegl, Matthias, 2020. "Structural unemployment, underemployment, and secular stagnation," ISER Discussion Paper 1088rrr, Institute of Social and Economic Research, The University of Osaka, revised Jan 2023.
    28. Sergio de Ferra & Kurt Mitman & Federica Romei, 2019. "Household Heterogeneity and the Transmission of Foreign Shocks," NBER Chapters, in: NBER International Seminar on Macroeconomics 2019, National Bureau of Economic Research, Inc.
    29. Dupor, Bill & Li, Jingchao & Li, Rong, 2019. "Sticky wages, private consumption, and Fiscal multipliers," Journal of Macroeconomics, Elsevier, vol. 62(C).
    30. Mitchener, Kris James & Pina, Gonçalo, 2020. "Pegxit pressure," Journal of International Money and Finance, Elsevier, vol. 107(C).
    31. Kazuma Inagaki, & Yoshiyasu Ono & Takayuki Tsuruga, 2022. "Accounting for the slowdown in output growth after the Great Recession: A wealth preference approach," ISER Discussion Paper 1174, Institute of Social and Economic Research, The University of Osaka.
    32. Galli, Carlo, 2021. "Self-fulfilling debt crises, fiscal policy and investment," Journal of International Economics, Elsevier, vol. 131(C).
    33. Norring, Anni, 2022. "Taming the tides of capital: Review of capital controls and macroprudential policy in emerging economies," BoF Economics Review 1/2022, Bank of Finland.
    34. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
    35. Schmitt-Grohé, Stephanie & Uribe, Martín, 2016. "Multiple Equilibria in Open Economy Models with Collateral Constraints: Overborrowing Revisited," CEPR Discussion Papers 11623, C.E.P.R. Discussion Papers.
    36. Blanco, Andres & Diaz de Astarloa, Bernardo & Drenik, Andres & Moser, Christian & Trupkin, Danilo, 2022. "The Evolution of the Earnings Distribution in a Volatile Economy: Evidence from Argentina," CEPR Discussion Papers 16118, C.E.P.R. Discussion Papers.
    37. Matschke, Johannes & Lovchikova, Marina, 2022. "Capital Controls and the Global Financial Cycle," VfS Annual Conference 2022 (Basel): Big Data in Economics 264039, Verein für Socialpolitik / German Economic Association.
    38. Kaz Miyagiwa & Yoshiyasu Ono, 2019. "Immigration and Secular Stagnation," ISER Discussion Paper 1054, Institute of Social and Economic Research, The University of Osaka.
    39. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2017. "Fiscal consolidation and its cross-country effects," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 55-106.
    40. Mauricio Ulate & Jose P. Vasquez & Roman D. Zarate, 2023. "Labor Market Effects of Global Supply Chain Disruptions," CESifo Working Paper Series 10311, CESifo.
    41. Zaretski, Aliaksandr, 2021. "Financial constraints, risk sharing, and optimal monetary policy," MPRA Paper 110757, University Library of Munich, Germany.
    42. Joy Buchanan & Daniel Houser, 2019. "If Wages Fell During a Recession," Working Papers 1072, George Mason University, Interdisciplinary Center for Economic Science.
    43. Corsetti, Giancarlo & Mavroeidi, Eleonora & Thwaites, Gregory & Wolf, Martin, 2017. "Step away from the zero lower bound: small open economies in a world of secular stagnation," Bank of England working papers 666, Bank of England.
    44. Tomohide Mineyama, 2024. "Downward Nominal Wage Rigidity and Determinacy of Equilibrium," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(1), pages 305-316, February.
    45. Ken-ichi Hashimoto & Yoshiyasu Ono & Matthias Schlegl, 2020. "Structural Unemployment, Underemployment, and Secular Stagnation," ISER Discussion Paper 1088, Institute of Social and Economic Research, The University of Osaka.
    46. Forni, Mario & Debortoli, Davide & Gambetti, Luca & Sala, Luca, 2020. "Asymmetric Effects of Monetary Policy Easing and Tightening," CEPR Discussion Papers 15005, C.E.P.R. Discussion Papers.
    47. Marco Fongoni & Daniel Schaefer & Carl Singleton, 2023. "Why wages don't fall in jobs with incomplete contracts," Economics Discussion Papers em-dp2023-12, Department of Economics, University of Reading.
    48. Kobielarz, M.L., 2023. "Bailout dynamics in a monetary union," Journal of International Economics, Elsevier, vol. 142(C).
    49. Das, Mitali & Ordal, Hailey, 2022. "Macroeconomic stability or financial stability: How are capital controls used? Insights from a new database," Journal of Financial Stability, Elsevier, vol. 63(C).
    50. J. Scott Davis & Ippei Fujiwara & Kevin X. D. Huang & Jiao Wang, 2019. "Foreign Exchange Reserves as a Tool for Capital Account Management," Globalization Institute Working Papers 352, Federal Reserve Bank of Dallas.
    51. Keuschnigg, Christian & Kirschner, Linda & Kogler, Michael & Winterberg, Hannah, 2020. "Italy in the Eurozone," CEPR Discussion Papers 15040, C.E.P.R. Discussion Papers.
    52. Bill Dupor & Jingchao Li & Rong Li, 2017. "Sticky Wages, Monetary Policy and Fiscal Policy Multipliers," Working Papers 2017-7, Federal Reserve Bank of St. Louis.
    53. Davis, Steven J. & Krolikowski, Pawel M., 2023. "Sticky Wages on the Layoff Margin," IZA Discussion Papers 16351, Institute of Labor Economics (IZA).
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    55. Giancarlo Corsetti & Keith Kuester & Gernot J. Müller, 2017. "Fixed on Flexible Rethinking Exchange Rate Regimes after the Great Recession," Discussion Papers 1721, Centre for Macroeconomics (CFM).
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    206. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Liquidity Traps and Jobless Recoveries," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(1), pages 165-204, January.
    207. Lawrence J. Christiano & Martin S. Eichenbaum & Mathias Trabandt, 2020. "Why is Unemployment so Countercyclical?," NBER Working Papers 26723, National Bureau of Economic Research, Inc.
    208. Bujunoori, Raja Reddy & Mannil, Nithin & Tantri, Prasanna, 2024. "Does labor composition impact the transmission of monetary policy to output?," Journal of Development Economics, Elsevier, vol. 167(C).
    209. Andrew Glover, 2018. "Aggregate Effects of Minimum Wage Regulation at the Zero Lower Bound," 2018 Meeting Papers 1285, Society for Economic Dynamics.
    210. Gabriela Cugat, 2019. "Emerging markets, household heterogeneity, and exchange rate policy," 2019 Meeting Papers 526, Society for Economic Dynamics.
    211. Pierpaolo Benigno & Gauti B. Eggertsson, 2023. "It’s Baaack: The Surge in Inflation in the 2020s and the Return of the Non-Linear Phillips Curve," NBER Working Papers 31197, National Bureau of Economic Research, Inc.
    212. Kriwoluzky, Alexander & Müller, Gernot J. & Wolf, Martin, 2019. "Exit expectations and debt crises in currency unions," Journal of International Economics, Elsevier, vol. 121(C).
    213. Yuta Saito, 2022. "A Note on Time Inconsistency and Endogenous Exits from a Currency Union," Games, MDPI, vol. 13(2), pages 1-8, February.
    214. Rojas, Eugenio & Saffie, Felipe, 2022. "Non-homothetic sudden stops," Journal of International Economics, Elsevier, vol. 139(C).
    215. Menna Bizuneh & Menelik Geremew, 2021. "Assessing the Impact of Covid-19 Pandemic on Emerging Market Economies’ (EMEs) Sovereign Bond Risk Premium and Fiscal Solvency," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 47(4), pages 519-545, October.
    216. Dennis Bonam & Emmanuel De Veirman & Gavin Goy, 2020. "Should developed economies manage international capital flows?," Working Papers 702, DNB.
    217. Pietro Cova & Lisa Rodano, 2019. "Relative price dynamics in the Euro area: where do we stand?," Temi di discussione (Economic working papers) 1226, Bank of Italy, Economic Research and International Relations Area.
    218. Liang, Xiao & Rozelle, Scott & Yi, Hongmei, 2022. "The impact of COVID-19 on employment and income of vocational graduates in China: Evidence from surveys in January and July 2020," China Economic Review, Elsevier, vol. 75(C).
    219. Gintautas Radvila & Violeta Šilingienė, 2020. "Designing Remuneration Systems of Organizations for Sustainable HRM: The Core Characteristics of an Emerging Field," International Journal of Human Resource Studies, Macrothink Institute, vol. 10(2), pages 252279-2522, December.
    220. Ottonello, Pablo, 2021. "Optimal exchange-rate policy under collateral constraints and wage rigidity," Journal of International Economics, Elsevier, vol. 131(C).
    221. Tenreyro, Silvana & Drechsel, Thomas & McLeay, Michael, 2019. "Monetary policy for commodity booms and busts," CEPR Discussion Papers 14030, C.E.P.R. Discussion Papers.
    222. Fiuratti,Federico Ivan & Nikolova,Desislava Enikova & Pennings,Steven Michael & Schiffbauer,Marc Tobias, 2024. "Are Regional Fiscal Multipliers on EU Structural and Investment Fund Spending Large ? A Reassessment of the Evidence," Policy Research Working Paper Series 10658, The World Bank.
    223. Jean‐François Rouillard, 2023. "Credit Crunch and Downward Nominal Wage Rigidities," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(4), pages 889-914, June.
    224. Loipersberger, Florian & Matschke, Johannes, 2022. "Financial cycles and domestic policy choices," European Economic Review, Elsevier, vol. 143(C).
    225. Markus Sihvonen, 2023. "Equity Home Bias in a Capital Market Union," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 71(4), pages 953-999, December.
    226. Fadinger, Harald & Herkenhoff, Philipp & Schymik, Jan, 2024. "Reprint of: Quantifying the Germany shock: Structural labor-market reforms and spillovers in a currency union," Journal of International Economics, Elsevier, vol. 149(C).
    227. Carreño Bustos, José & Uras, Burak, 2021. "Macro Welfare Effects of Flexible Labor Contracts," Other publications TiSEM b6157c76-fc4e-4154-92ed-1, Tilburg University, School of Economics and Management.
    228. Jiao, Yang, 2024. "Financial crises, bailouts and monetary policy in open economies," Journal of International Economics, Elsevier, vol. 151(C).

  10. Fernández, Andrés & Rebucci, Alessandro & Uribe, Martín, 2015. "Are capital controls countercyclical?," Journal of Monetary Economics, Elsevier, vol. 76(C), pages 1-14.

    Cited by:

    1. Gina Christelle Pieters, 2017. "Bitcoin Reveals Exchange Rate Manipulation and Detects Capital Controls," 2017 Papers ppi307, Job Market Papers.
    2. Uluc Aysun & Karlia Clarke & Oronde Small, 2022. "Capital Outflow Restrictions and Dollar Drainage," Working Papers 2022-02, University of Central Florida, Department of Economics.
    3. Ghosh, Atish R. & Ostry, Jonathan D. & Qureshi, Mahvash S., 2018. "Taming the Tide of Capital Flows: A Policy Guide," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262037165, December.
    4. Gianluca Benigno & Huigang Chen & Christopher Otrok & Alessandro Rebucci & Eric R. Young, 2011. "Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective," Discussion Papers 1512, Centre for Macroeconomics (CFM), revised Feb 2015.
    5. Katharina Bergant & Francesco Grigoli & Niels‐Jakob Hansen & Damiano Sandri, 2024. "Dampening Global Financial Shocks: Can Macroprudential Regulation Help (More than Capital Controls)?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(6), pages 1405-1438, September.
    6. Matschke, Johannes & Lovchikova, Marina, 2022. "Capital Controls and the Global Financial Cycle," VfS Annual Conference 2022 (Basel): Big Data in Economics 264039, Verein für Socialpolitik / German Economic Association.
    7. Nicolas Gavoille & Katharina Hofer, 2018. "Capital Controls and Electoral Cycles," SSE Riga/BICEPS Research Papers 5, Baltic International Centre for Economic Policy Studies (BICEPS);Stockholm School of Economics in Riga (SSE Riga).
    8. Makram El-Shagi & Steven Yamarik, 2018. "IMF Conditionality and Capital Controls: Capital Account Liberalization to Capital Inflow Management?," CFDS Discussion Paper Series 2018/6, Center for Financial Development and Stability at Henan University, Kaifeng, Henan, China.
    9. Marcel Fratzscher & Tobias Heidland & Lukas Menkhoff & Lucio Sarno & Maik Schmeling, 2020. "Foreign Exchange Intervention: A New Database," Discussion Papers of DIW Berlin 1915, DIW Berlin, German Institute for Economic Research.
    10. Bechlioulis, Alexandros & Economidou, Claire & Karamanis, Dimitrios & Konstantios, Dimitrios, 2023. "How important are capital controls in shaping innovation activity?," Journal of International Money and Finance, Elsevier, vol. 131(C).
    11. Catão, Luís A.V. & te Kaat, Daniel Marcel, 2021. "Capital account liberalization and the composition of bank liabilities," Journal of International Money and Finance, Elsevier, vol. 116(C).
    12. Javier Bianchi & Guido Lorenzoni, 2021. "The Prudential Use of Capital Controls and Foreign Currency Reserves," Working Papers 787, Federal Reserve Bank of Minneapolis.
    13. Shigeto Kitano & Kenya Takaku, 2017. "Capital Controls, Macroprudential Regulation,and the Bank Balance Sheet Channel," Discussion Paper Series DP2017-18, Research Institute for Economics & Business Administration, Kobe University, revised Jan 2019.
    14. Martijn Boermans & Ian Cooper & Piet Sercu & Rosanne Vanpée, 2022. "Foreign bias in equity portfolios: Informational advantage or familiarity bias?," Working Papers 742, DNB.
    15. Pierre-Richard Agénor & Luiz Awazu Pereira da Silva, 2021. "Macroeconomic policy under a managed float: a simple integrated framework," BIS Working Papers 964, Bank for International Settlements.
    16. Daniel Carvalho & Etienne Lepers & Rogelio V. Mercado, Jr., 2022. "Taming the "Capital Flows-Credit Nexus": A Sectoral Approach," Working Papers wp46, South East Asian Central Banks (SEACEN) Research and Training Centre.
    17. Kathryn M. E. Dominguez, 2020. "Revisiting Exchange Rate Rules," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 693-719, September.
    18. Hao Jin & Chen Xiong, 2019. "Financial Openness, Bank Capital Flows, and the Effectiveness of Macroprudential Policies," Working Papers 2019-07-08, Wang Yanan Institute for Studies in Economics (WISE), Xiamen University.
    19. Ma, Chang, 2020. "Financial stability, growth and macroprudential policy," Journal of International Economics, Elsevier, vol. 122(C).
    20. Agénor, Pierre-Richard & Jia, Pengfei, 2020. "Capital controls and welfare with cross-border bank capital flows," Journal of Macroeconomics, Elsevier, vol. 65(C).
    21. Bilge Erten & Anton Korinek & José Antonio Ocampo, 2019. "Capital Controls: Theory and Evidence," NBER Working Papers 26447, National Bureau of Economic Research, Inc.
    22. Paul Castillo & Juan Pablo Medina, 2021. "Foreign Exchange Intervention, Capital Flows, and Liability Dollarization," GRU Working Paper Series GRU_2021_027, City University of Hong Kong, Department of Economics and Finance, Global Research Unit, revised 25 Jul 2021.
    23. Chang Ma & John H. Rogers & Sili Zhou, 2019. "The Effect of the China Connect," Finance and Economics Discussion Series 2019-087, Board of Governors of the Federal Reserve System (U.S.).
    24. Guido M. Kuersteiner & David C. Phillips & Mauricio Villamizar-Villegas, 2016. "Effective Sterilized Foreign Exchange Intervention? Evidence from a Rule-Based Policy," Borradores de Economia 964, Banco de la Republica de Colombia.
    25. Stephanie Schmitt-Grohé & Martín Uribe, 2017. "Is Optimal Capital Control Policy Countercyclical in Open Economy Models with Collateral Constraints?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(3), pages 498-527, August.
    26. Cantú, Carlos, 2019. "Effects of capital controls on foreign exchange liquidity," Journal of International Money and Finance, Elsevier, vol. 93(C), pages 201-222.
    27. Elias A. Udeaja & Nathan Audu, 2023. "Asymmetric Effect of External Debt and Foreign Capital Flows on Economic Growth: New Evidence from Nigeria," Athens Journal of Business & Economics, Athens Institute for Education and Research (ATINER), vol. 9(3), pages 345-368, July.
    28. Gurnain Kaur Pasricha, 2020. "Estimated Policy Rules for Capital Controls," IMF Working Papers 2020/080, International Monetary Fund.
    29. Chokri Zehri, 2020. "The Domestic Impacts And Spillovers Of Capital Controls," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 65(227), pages 31-66, October –.
    30. Radhika Pandey & Gurnain Pasricha & Ila Patnaik & Ajay Shah, 2015. "Motivations for Capital Controls and Their Effectiveness," Staff Working Papers 15-5, Bank of Canada.
    31. Andrés Fernández & Alessandro Rebucci & Martín Uribe, 2013. "Are Capital Controls Prudential? An Empirical Investigation," NBER Working Papers 19671, National Bureau of Economic Research, Inc.
    32. Ben Zeev, Nadav, 2017. "Capital controls as shock absorbers," Journal of International Economics, Elsevier, vol. 109(C), pages 43-67.
    33. Liu, Renliang & Sheng, Liugang & Wang, Jian, 2023. "Faking trade for capital control evasion: Evidence from dual exchange rate arbitrage in China," Journal of International Money and Finance, Elsevier, vol. 138(C).
    34. Nadav Ben Zeev, 2017. "Exchange Rate Regimes And Sudden Stops," Working Papers 1712, Ben-Gurion University of the Negev, Department of Economics.
    35. Wang, Jian & Wu, Jason, 2021. "Is capital flow management effective? Evidence based on U.S. monetary policy shocks," Journal of International Money and Finance, Elsevier, vol. 118(C).
    36. Xiao Wang & Yongwen Luo & Ziyan Zhu, 2023. "Capital Account Liberalization and International Corporate Bond Issuance: Transaction‐level Evidence from China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 31(6), pages 156-178, November.
    37. Daxin Dong, 2021. "The impact of financial openness on public debt in developing countries," Empirical Economics, Springer, vol. 60(5), pages 2261-2291, May.
    38. Chokri Zehri & David McMillan, 2020. "Restrictive policy impacts in emerging economies," Cogent Economics & Finance, Taylor & Francis Journals, vol. 8(1), pages 1815979-181, January.
    39. An, Jiyoun & Kim, Kyunghun & Pyun, Ju Hyun, 2021. "Does debt market integration amplify the international transmission of business cycles during financial crises?," Journal of International Money and Finance, Elsevier, vol. 115(C).
    40. Ben Zeev, Nadav, 2019. "Global credit supply shocks and exchange rate regimes," Journal of International Economics, Elsevier, vol. 116(C), pages 1-32.
    41. Steven Liao & Daniel McDowell, 2022. "Closing time: Reputational constraints on capital account policy in emerging markets," The Review of International Organizations, Springer, vol. 17(3), pages 543-568, July.
    42. Seoane, Hernán D. & Yurdagul, Emircan, 2019. "Trend shocks and sudden stops," Journal of International Economics, Elsevier, vol. 121(C).
    43. Miguel Acosta-Henao & Laura Alfaro & Andrés Fernández, 2020. "Sticky Capital Controls," NBER Working Papers 26997, National Bureau of Economic Research, Inc.
    44. Md Abdul Wasi & Thu Phuong Pham & Ralf Zurbruegg, 2023. "Bank systemic risk: An analysis of the sovereign rating ceiling policy and rating downgrades," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 50(1-2), pages 411-440, January.
    45. Di Casola, Paola & Sichlimiris, Spyridon, 2017. "Domestic and External Sovereign Debt," Working Paper Series 345, Sveriges Riksbank (Central Bank of Sweden).
    46. Lorenzo Menna & Martin Tobal, 2018. "Financial and price stability in emerging markets: the role of the interest rate," BIS Working Papers 717, Bank for International Settlements.
    47. Yang Zhou, 2022. "The Effects of Capital Controls on Housing Prices," Discussion Paper Series DP2022-29, Research Institute for Economics & Business Administration, Kobe University.
    48. Loipersberger, Florian & Matschke, Johannes, 2022. "Financial cycles and domestic policy choices," European Economic Review, Elsevier, vol. 143(C).
    49. Tobal Martín, 2017. "Prudential Regulation, Currency Mismatches and Exchange Rates in Latin America and the Caribbean," Working Papers 2017-21, Banco de México.

  11. Stephanie Schmitt-Grohé & Martín Uribe, 2014. "Liquidity Traps: an Interest-rate-based Exit Strategy," Manchester School, University of Manchester, vol. 82(S1), pages 1-14, September.
    See citations under working paper version above.
  12. Stephanie Schmitt-Grohé & Martin Uribe, 2013. "Downward Nominal Wage Rigidity and the Case for Temporary Inflation in the Eurozone," Journal of Economic Perspectives, American Economic Association, vol. 27(3), pages 193-212, Summer.

    Cited by:

    1. Anne Kathrin Funk & Daniel Kaufmann, 2020. "Do Sticky Wages Matter? New Evidence from Matched Firm-Survey and Register Data," KOF Working papers 20-480, KOF Swiss Economic Institute, ETH Zurich.
    2. Paul D. McNelis, 2014. "Finding Stability in a Time of Crisis: Lessons of East Asia for Eastern Europe," Working Papers 052014, Hong Kong Institute for Monetary Research.
    3. Olivier Cardi & Romain Restout & Peter Claeys, 2019. "Imperfect mobility of labor across sectors and fiscal transmission," Working Papers hal-02400991, HAL.
    4. Siena Daniele & Zago Riccardo, 2021. "Job Polarization and the Flattening of the Price Phillips Curve," Working papers 819, Banque de France.
    5. Michael W. L. Elsby & Gary Solon, 2019. "How Prevalent Is Downward Rigidity in Nominal Wages? International Evidence from Payroll Records and Pay Slips," Journal of Economic Perspectives, American Economic Association, vol. 33(3), pages 185-201, Summer.
    6. Pereira, João & Ramos, Raul & Martins, Pedro S., 2024. "Wage Cyclicality and Labour Market Institutions," IZA Discussion Papers 16787, Institute of Labor Economics (IZA).
    7. Nadav Ben Zeev, 2019. "Asymmetric Business Cycles In Emerging Market Economies," Working Papers 1909, Ben-Gurion University of the Negev, Department of Economics.
    8. Philippopoulos, Apostolis & Varthalitis, Petros & Vassilatos, Vanghelis, 2017. "Fiscal consolidation and its cross-country effects," Journal of Economic Dynamics and Control, Elsevier, vol. 83(C), pages 55-106.
    9. Luca Fornaro, 2014. "Financial crises and exchange rate policy," Economics Working Papers 1431, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2014.
    10. Basu, S. & House, C.L., 2016. "Allocative and Remitted Wages," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 297-354, Elsevier.
    11. P. Marotzke & R. Anderton & A. Bairrao & C. Berson & P. T th, 2017. "Asymmetric wage adjustment and employment in European firms," Working papers 640, Banque de France.
    12. Davis, Steven J. & Krolikowski, Pawel M., 2023. "Sticky Wages on the Layoff Margin," IZA Discussion Papers 16351, Institute of Labor Economics (IZA).
    13. E. Mengus, 2014. "International Bailouts: Why Did Banks' Collective Bet Lead Europe to Rescue Greece?," Working papers 502, Banque de France.
    14. Franz Hamann & Jesús Bejarano & Diego Rodríguez, 2015. "Monetary policy implications for an oil-exporting economy of lower long-run international oil prices," Borradores de Economia 871, Banco de la Republica de Colombia.
    15. Claudius Graebner & Philipp Heimberger & Jakob Kapeller & Michael Landesmann & Bernhard Schuetz, 2021. "The evolution of debtor-creditor relationships within a monetary union: Trade imbalances, excess reserves and economic policy," ICAE Working Papers 122, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    16. Haiwen Zhou, 2015. "The Choice of Technology and Equilibrium Wage Rigidity," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 10(2), pages 252-271, June.
    17. Willi Mutschler, 2015. "Higher-order statistics for DSGE models," CQE Working Papers 4315, Center for Quantitative Economics (CQE), University of Muenster.
    18. Athanasios Orphanides, 2014. "The Euro Area Crisis: Politics over Economics," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 42(3), pages 243-263, September.
    19. Nadav Ben Zeev, 2019. "Identification of Sign-Dependency of Impulse Responses," Working Papers 1907, Ben-Gurion University of the Negev, Department of Economics.
    20. Susanto Basu & Christopher L. House, 2016. "Allocative and Remitted Wages: New Facts and Challenges for Keynesian Models," NBER Working Papers 22279, National Bureau of Economic Research, Inc.
    21. jae sim & Raphael Schoenle & Egon Zakrajsek & Simon Gilchrist, 2015. "Financial Heterogeneity and Monetary Union," 2015 Meeting Papers 1327, Society for Economic Dynamics.
    22. Bengui, Julien & Acharya, Sushant & Dogra, Keshav & Wee, Shu Lin, 2018. "Slow Recoveries and Unemployment Traps: Monetary Policy in a Time of Hysteresis," CEPR Discussion Papers 13409, C.E.P.R. Discussion Papers.
    23. Verdugo, Gregory & Allègre, Guillaume, 2020. "Labour force participation and job polarization: Evidence from Europe during the Great Recession," Labour Economics, Elsevier, vol. 66(C).
    24. Rose Cunningham & Vikram Rai & Kristina Hess, 2019. "Exploring Wage Phillips Curves in Advanced Economies," Discussion Papers 2019-8, Bank of Canada.
    25. Bernhard Schuetz, 2022. "Investment booms, diverging competitiveness and wage growth within a monetary union: An AB-SFC model," ICAE Working Papers 138, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    26. Crafts, Nicholas, 2013. "What Does the 1930s’ Experience Tell Us about the Future of the Eurozone?," CAGE Online Working Paper Series 142, Competitive Advantage in the Global Economy (CAGE).
    27. DiMaria, charles-henri, 2023. "Profitability, investment and capital productivity," MPRA Paper 118640, University Library of Munich, Germany.
    28. Abbritti, Mirko & Consolo, Agostino & Weber, Sebastian, 2021. "Endogenous growth, downward wage rigidity and optimal inflation," Working Paper Series 2635, European Central Bank.
    29. Kohler, Wilhelm & Müller, Gernot J. & Wellmann, Susanne, 2021. "Risk sharing in currency unions: The migration channel," University of Tübingen Working Papers in Business and Economics 144, University of Tuebingen, Faculty of Economics and Social Sciences, School of Business and Economics.
    30. Supreet Kaur, 2014. "Nominal Wage Rigidity in Village Labor Markets," NBER Working Papers 20770, National Bureau of Economic Research, Inc.
    31. Sushant Acharya & Julien Bengui & Keshav Dogra & Shu Lin Wee, 2016. "Escaping Unemployment Traps," Liberty Street Economics 20161116, Federal Reserve Bank of New York.
    32. Ruy Lama & Juan Pablo Medina, 2019. "Fiscal Deficits and Unemployment Dynamics: The Role of Productivity Gains and Wage Rigidities," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 34, pages 121-140, October.
    33. Yoshinori Kurokawa & Jiaren Pang & Yao Tang, 2011. "Exchange Rate Regimes, Trade, and the Wage Comovements," Tsukuba Economics Working Papers 2011-001, Faculty of Humanities and Social Sciences, University of Tsukuba.
    34. Gregory Verdugo, 2016. "Real wage cyclicality in the Eurozone before and during the Great Recession: Evidence from micro data," SciencePo Working papers Main hal-01296738, HAL.
    35. Nadav Ben Zeev, 2017. "Exchange Rate Regimes And Sudden Stops," Working Papers 1712, Ben-Gurion University of the Negev, Department of Economics.
    36. Jardim, Ekaterina & Solon, Gary & Vigdor, Jacob, 2019. "How Prevalent Is Downward Rigidity in Nominal Wages? Evidence from Payroll Records in Washington State," IZA Discussion Papers 12124, Institute of Labor Economics (IZA).
    37. Andrea Gazzani & Vicente Herrera & Alejandro Vicondoa, 2024. "The Asymmetric Effects of Commodity Price Shocks in Emerging Economies," Working Papers 311, Red Nacional de Investigadores en Economía (RedNIE).
    38. Schoenle, Raphael & L'Huillier, Jean-Paul, 2019. "Raising the Inflation Target: How Much Extra Room Does It Really Give?," CEPR Discussion Papers 14142, C.E.P.R. Discussion Papers.
    39. Sacht, Stephen, 2015. "On the efficiency of labor market reforms: How to solve the Spanish puzzle?," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 9, pages 1-30.
    40. George Economides & Apostolis Philippopoulos & Petros Varthalitis, 2016. "Monetary Union, Even Higher Integration, or Back to National Currencies?," CESifo Economic Studies, CESifo Group, vol. 62(2), pages 232-255.
    41. Jeremi Montornes & Jacques-Bernard Sauner-Leroy, 2015. "Wage-setting Behavior in France: Additional Evidence from an Ad-hoc Survey," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 1(3), pages 5-23, May.
    42. Beblavý, Miroslav & Lenaerts, Karolien & Maselli, Ilaria, 2017. "Design of a European Unemployment Benefit Scheme," CEPS Papers 12263, Centre for European Policy Studies.
    43. Consolo, Agostino & Koester, Gerrit & Nickel, Christiane & Porqueddu, Mario & Smets, Frank, 2021. "The need for an inflation buffer in the ECB’s price stability objective – the role of nominal rigidities and inflation differentials," Occasional Paper Series 279, European Central Bank.
    44. Òscar Jordà & Moritz Schularick & Alan M. Taylor, 2024. "Disasters Everywhere: The Costs of Business Cycles Reconsidered," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 72(1), pages 116-151, March.
    45. Francesco D'Amuri & Salvatore Lattanzio & Benjamin S. Smith, 2023. "The anatomy of labor cost adjustment to demand shocks: Germany and Italy during the Great Recession," Temi di discussione (Economic working papers) 1411, Bank of Italy, Economic Research and International Relations Area.
    46. Ben Zeev, Nadav, 2019. "Global credit supply shocks and exchange rate regimes," Journal of International Economics, Elsevier, vol. 116(C), pages 1-32.
    47. Martin Wolf, 2018. "Optimal Prudential Policy in Economies with Downward Wage Rigidity," Vienna Economics Papers vie1804, University of Vienna, Department of Economics.
    48. Martin M. Andreasen & Anders Kronborg, 2017. "The Extended Perturbation Method: New Insights on the New Keynesian Model," CREATES Research Papers 2017-14, Department of Economics and Business Economics, Aarhus University.
    49. Brigitte Granville & Dominik Nagly, 2015. "Conflicting Incentives for Public Support for EMU," Manchester School, University of Manchester, vol. 83, pages 142-157, December.
    50. Antonio Acconcis & Daniela Fabbri & Annamaria Menichini, 2023. "Firms’ Capital Structure and Employment in the Aftermath of the 2008-9 Financial Crisis," CSEF Working Papers 686, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    51. Brigitte Granville & Dominik Nagly, 2014. "Conflicting incentives for the public to support the EMU," Working Papers 50, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    52. Jesús Bejarano & Franz Hamann & Paulina Restrepo-Echavarria & Diego Rodríguez, 2016. "Monetary Policy in an Oil-Exporting Economy," Review, Federal Reserve Bank of St. Louis, vol. 98(3), pages 239-261.
    53. Peter Spahn, 2013. "Competitiveness, Adjustment and Macroeconomic Risk Management in the Eurozone," ROME Working Papers 201316, ROME Network.
    54. Stefano Neri & Alessandro Notarpietro, 2015. "The macroeconomic effects of low and falling inflation at the zero lower bound," Temi di discussione (Economic working papers) 1040, Bank of Italy, Economic Research and International Relations Area.
    55. Gabriel Fagan & Paul McNelis, 2014. "TARGET Balances and Macroeconomic Adjustment to Sudden Stops in the Euro Area," The Institute for International Integration Studies Discussion Paper Series iiisdp465, IIIS, revised Dec 2014.
    56. Lasitha R.C. Pathberiya, 2018. "Jobless Recovery, Liquidity Trap, Tight Monetary Policy and the Cost Channel," Discussion Papers Series 591, School of Economics, University of Queensland, Australia.
    57. Elfsbacka Schmöller, Michaela & Spitzer, Martin, 2021. "Deep recessions, slowing productivity and missing (dis-)inflation in the euro area," European Economic Review, Elsevier, vol. 134(C).
    58. Papanikos, Gregory T., 2015. "The real exchange rate of euro and Greek economic growth," The Journal of Economic Asymmetries, Elsevier, vol. 12(2), pages 100-109.

  13. Stephanie Schmitt‐Grohé & Martín Uribe, 2012. "What's News in Business Cycles," Econometrica, Econometric Society, vol. 80(6), pages 2733-2764, November.
    See citations under working paper version above.
  14. Schmitt-Grohé, Stephanie & Uribe, Martín, 2012. "On quality bias and inflation targets," Journal of Monetary Economics, Elsevier, vol. 59(4), pages 393-400.
    See citations under working paper version above.
  15. Stephanie Schmitt-Grohe & Martin Uribe, 2012. "Managing Currency Pegs," American Economic Review, American Economic Association, vol. 102(3), pages 192-197, May.
    See citations under working paper version above.
  16. Stephanie Schmitt-Groh√ & Mart√Çn Uribe, 2012. "Foreign Demand for Domestic Currency and the Optimal Rate of Inflation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(6), pages 1207-1224, September.
    See citations under working paper version above.
  17. Schmitt-Grohé, Stephanie & Uribe, Martín, 2012. "An OLS approach to computing Ramsey equilibria in medium-scale macroeconomic models," Economics Letters, Elsevier, vol. 115(1), pages 128-129.

    Cited by:

    1. Bidyut Talukdar, 2015. "Learning-by-doing and the optimal Ramsey interest rate," Economics Bulletin, AccessEcon, vol. 35(1), pages 53-60.
    2. Lorenzo Forni & Mehrab Kiarsi, 2023. "Optimal Climate and Monetary-Fiscal Policy in a Climate-DSGE Framework," "Marco Fanno" Working Papers 0299, Dipartimento di Scienze Economiche "Marco Fanno".
    3. Barbara Annicchiarico & Fabio Di Dio, 2017. "GHG Emissions Control and Monetary Policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 67(4), pages 823-851, August.
    4. Cardani, Roberta & Menna, Lorenzo & Tirelli, Patrizio, 2020. "The Optimal Policy Mix To Achieve Public Debt Consolidation," Macroeconomic Dynamics, Cambridge University Press, vol. 24(1), pages 113-129, January.
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    8. Lorenzo Menna & Patrizio Tirelli, 2017. "Optimal inflation to reduce inequality," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 24, pages 79-94, March.
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    13. Nils Mattis Gornemann, 2018. "HANK meets Ramsey: Optimal Coordination of Monetary and Labor Market Policies," 2018 Meeting Papers 1252, Society for Economic Dynamics.
    14. Carlsson, Mikael & Westermark, Andreas, 2016. "Labor market frictions and optimal steady-state inflation," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 67-79.

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    1. Choi, Sangyup & Shin, Junhyeok & Yoo, Seung Yong, 2022. "Are government spending shocks inflationary at the zero lower bound? New evidence from daily data," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    2. Marie-Pierre Hory & Grégory Levieuge & Daria Onori, 2023. "The fiscal multiplier when debt is denominated in foreign currency," Post-Print hal-04355530, HAL.
    3. Cormun, Vito & Ristolainen, Kim, 2024. "Exchange rate narratives," Bank of Finland Research Discussion Papers 11/2024, Bank of Finland.
    4. Désirée I Christofzik & Steffen Elstner, 2021. "International spillover effects of U.S. tax reforms: evidence from Germany," Oxford Economic Papers, Oxford University Press, vol. 73(2), pages 578-600.
    5. Philipp Wegmueller, 2014. "Utility functions, fiscal shocks and the open economy - In the search of a positive consumption multiplier," Diskussionsschriften dp1407, Universitaet Bern, Departement Volkswirtschaft.
    6. Gareis, Johannes & Mayer, Eric, 2020. "Financial shocks and the relative dynamics of tangible and intangible investment: Evidence from the euro area," Discussion Papers 39/2020, Deutsche Bundesbank.
    7. Giancarlo Corsetti & André Meier & Gernot J. Müller, 2012. "What determines government spending multipliers? [Mafia and public spending: Evidence of the fiscal multiplier from a quasi-experiment’, mimeo]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 27(72), pages 521-565.
    8. Miyamoto, Wataru & Nguyen, Thuy Lan & Sheremirov, Viacheslav, 2019. "The effects of government spending on real exchange rates: Evidence from military spending panel data," Journal of International Economics, Elsevier, vol. 116(C), pages 144-157.
    9. James Cloyne, 2014. "Government spending shocks, wealth effects and distortionary taxes," Discussion Papers 1413, Centre for Macroeconomics (CFM).
    10. Amanda M. Michaud & Jacek Rothert, 2017. "Redistributive Fiscal Policies and Business Cycles in Emerging Economies," Working Papers (Old Series) 1709, Federal Reserve Bank of Cleveland.
    11. Alpanda, Sami & Aysun, Uluc & Kabaca, Serdar, 2024. "International portfolio rebalancing and fiscal policy spillovers," Journal of Economic Dynamics and Control, Elsevier, vol. 168(C).
    12. IWATA, Yasuharu & IIBOSHI, Hirokuni, 2023. "The Nexus between Public Debt and the Government Spending Multiplier: Fiscal Adjustments Matter," MPRA Paper 116355, University Library of Munich, Germany.
    13. Sarah Zubairy, 2010. "On Fiscal Multipliers: Estimates from a Medium Scale DSGE Model," Staff Working Papers 10-30, Bank of Canada.
    14. Hristov, Atanas, 2022. "Credit spread and the transmission of government purchases shocks," Economic Modelling, Elsevier, vol. 107(C).
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    16. Luca Metelli & Filippo Natoli, 2019. "The international transmission of US tax shocks: a proxy-SVAR approach," Temi di discussione (Economic working papers) 1223, Bank of Italy, Economic Research and International Relations Area.
    17. Sangyup Choi & Davide Furceri & Chansik Yoon, 2020. "International Fiscal-financial Spillovers: The Effect of Fiscal Shocks on Cross-border Bank Lending," GRU Working Paper Series GRU_2020_025, City University of Hong Kong, Department of Economics and Finance, Global Research Unit.
    18. Paweł Kopiec, 2023. "Frictional product market, supply chains and the impact of government expenditures on private consumption," Bank i Kredyt, Narodowy Bank Polski, vol. 54(3), pages 285-308.
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    Cited by:

    1. Sveen, Tommy, 2014. "Capital accumulation, sectoral heterogeneity and the Taylor principle," Journal of Economic Dynamics and Control, Elsevier, vol. 44(C), pages 20-28.
    2. Samaniego, Roberto M. & Sun, Juliana Y., 2015. "Technology and contractions: evidence from manufacturing," European Economic Review, Elsevier, vol. 79(C), pages 172-195.

  22. Stephanie Schmitt-Grohe & Martin Uribe, 2011. "Business Cycles With A Common Trend in Neutral and Investment-Specific Productivity," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(1), pages 122-135, January.
    See citations under working paper version above.
  23. Ravn, Morten O. & Schmitt-Grohe, Stephanie & Uribe, Martín & Uuskula, Lenno, 2010. "Deep habits and the dynamic effects of monetary policy shocks," Journal of the Japanese and International Economies, Elsevier, vol. 24(2), pages 236-258, June.
    See citations under working paper version above.
  24. Javier Garcia-Cicco & Roberto Pancrazi & Martin Uribe, 2010. "Real Business Cycles in Emerging Countries?," American Economic Review, American Economic Association, vol. 100(5), pages 2510-2531, December.
    See citations under working paper version above.
  25. Schmitt-Grohé, Stephanie & Uribe, Martín, 2010. "Evaluating the sample likelihood of linearized DSGE models without the use of the Kalman filter," Economics Letters, Elsevier, vol. 109(3), pages 142-143, December.

    Cited by:

    1. Meyer-Gohde, Alexander & Neuhoff, Daniel, 2018. "Generalized exogenous processes in DSGE: A Bayesian approach," IMFS Working Paper Series 125, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
    2. Delle Monache, Davide & Petrella, Ivan, 2019. "Efficient matrix approach for classical inference in state space models," Economics Letters, Elsevier, vol. 181(C), pages 22-27.
    3. Adrien Auclert & Bence Bardóczy & Matthew Rognlie & Ludwig Straub, 2019. "Using the Sequence-Space Jacobian to Solve and Estimate Heterogeneous-Agent Models," NBER Working Papers 26123, National Bureau of Economic Research, Inc.
    4. Anders Warne & Günter Coenen & Kai Christoffel, 2017. "Marginalized Predictive Likelihood Comparisons of Linear Gaussian State‐Space Models with Applications to DSGE, DSGE‐VAR, and VAR Models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 32(1), pages 103-119, January.
    5. Meyer-Gohde, Alexander & Neuhoff, Daniel, 2015. "Solving and estimating linearized DSGE models with VARMA shock processes and filtered data," Economics Letters, Elsevier, vol. 133(C), pages 89-91.

  26. Stephanie Schmitt‐Grohé & Martín Uribe, 2009. "Liquidity traps with global Taylor Rules," International Journal of Economic Theory, The International Society for Economic Theory, vol. 5(1), pages 85-106, March.
    See citations under working paper version above.
  27. Ravn, Morten O. & Schmitt-Grohé, Stephanie & Uribe, Martín, 2008. "Macroeconomics Of Subsistence Points," Macroeconomic Dynamics, Cambridge University Press, vol. 12(S1), pages 136-147, April.
    See citations under working paper version above.
  28. Stephanie Schmitt-Grohe & Martin Uribe, 2008. "Policy implications of the New Keynesian Phillips curve," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 94(Fall), pages 435-465.

    Cited by:

    1. Florin Bilbiie & Ippei Fujiwara & Fabio Ghironi, 2014. "Optimal monetary policy with endogenous entry and product variety," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00975152, HAL.
    2. Barbara Annicchiarico & Cédric Crofils, 2025. "Weather Shocks and the Optimal Policy Mix in a Climate-Vulnerable Economy," Working Papers hal-04928143, HAL.
    3. Daniela Milučká, 2014. "Inflation dynamics in the Czech Republic: Estimation of the New Keynesian Phillips curve," International Journal of Economic Sciences, Prague University of Economics and Business, vol. 2014(2), pages 53-70.
    4. Fagan, Gabriel & Messina, Julián, 2009. "Downward wage rigidity and optimal steady-state inflation," Working Paper Series 1048, European Central Bank.
    5. Junjie Guo & Juan Carlos Escanciano & Jinho Choi, 2017. "Identification and Generalized Band Spectrum Estimation of the New Keynesian Phillips Curve," CAEPR Working Papers 2017-014, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.

  29. Morten O. Ravn & Stephanie Schmitt-Grohe & Martin Uribe, 2008. "Incomplete cost pass-through under deep habits," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    See citations under working paper version above.
  30. Schmitt-Grohe, Stephanie & Uribe, Martin, 2007. "Optimal simple and implementable monetary and fiscal rules," Journal of Monetary Economics, Elsevier, vol. 54(6), pages 1702-1725, September.
    See citations under working paper version above.
  31. Morten O. Ravn & Stephanie Schmitt-Grohé & Martín Uribe, 2007. "Pricing to Habits and the Law of One Price," American Economic Review, American Economic Association, vol. 97(2), pages 232-238, May.
    See citations under working paper version above.
  32. Martín Uribe, 2006. "On Overborrowing," American Economic Review, American Economic Association, vol. 96(2), pages 417-421, May.
    See citations under working paper version above.
  33. Morten Ravn & Stephanie Schmitt-Grohé & Martín Uribe, 2006. "Deep Habits," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 73(1), pages 195-218.
    See citations under working paper version above.
  34. Uribe, Martin, 2006. "A fiscal theory of sovereign risk," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 1857-1875, November.
    See citations under working paper version above.
  35. Schmitt-Grohe, Stephanie & Uribe, Martin, 2004. "Optimal fiscal and monetary policy under imperfect competition," Journal of Macroeconomics, Elsevier, vol. 26(2), pages 183-209, June.
    See citations under working paper version above.
  36. Schmitt-Grohe, Stephanie & Uribe, Martin, 2004. "Optimal fiscal and monetary policy under sticky prices," Journal of Economic Theory, Elsevier, vol. 114(2), pages 198-230, February.
    See citations under working paper version above.
  37. Martin Uribe & Vivian Z. Yue, 2004. "Country spreads and emerging countries: who drives whom?," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    See citations under working paper version above.
  38. Schmitt-Grohe, Stephanie & Uribe, Martin, 2004. "Solving dynamic general equilibrium models using a second-order approximation to the policy function," Journal of Economic Dynamics and Control, Elsevier, vol. 28(4), pages 755-775, January.
    See citations under working paper version above.
  39. Guillermo A. Calvo & Alejandro Izquierdo, 2004. "On the empirics of Sudden Stops: the relevance of balance-sheet effects," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.

    Cited by:

    1. Bachellerie, A. & Couillault, B., 2005. "Public debt sustainability and crises in emerging market countries: a presentation of the concepts and diagnostic tools," Financial Stability Review, Banque de France, issue 6, pages 63-80, June.
    2. Cuadra Gabriel & Sapriza Horacio, 2006. "Sovereign Default, Terms of Trade and Interest Rates in Emerging Markets," Working Papers 2006-01, Banco de México.
    3. Ms. Nancy P. Marion & Mr. Robert P Flood, 2006. "Getting Shut Out of the International Capital Markets - It Doesn’t Take Much," IMF Working Papers 2006/144, International Monetary Fund.
    4. Sebastian Edwards, 2009. "Sequencing of Reforms, Financial Globalization, and Macroeconomic Vulnerability," NBER Chapters, in: Financial Globalization, 20th Anniversary Conference, NBER-TCER-CEPR, National Bureau of Economic Research, Inc.
    5. Vasco Cúrdia, 2005. "Monetary Policy under Sudden Stops," International Finance 0510025, University Library of Munich, Germany, revised 19 Dec 2005.
    6. Cavallo, Eduardo A. & Velasco, Andrés, 2006. "Quid pro Quo: National Institutions and Sudden Stops in International Capital Movements," IDB Publications (Working Papers) 1581, Inter-American Development Bank.
    7. Ricardo M. Reyes-Heroles & Gabriel Tenorio, 2017. "Interest Rate Volatility and Sudden Stops : An Empirical Investigation," International Finance Discussion Papers 1209, Board of Governors of the Federal Reserve System (U.S.).
    8. Guillermo A. Calvo & Alejandro Izquierdo & Rudy Loo-Kung, 2005. "Relative Price Volatility Under Sudden Stops: The Relevance of Balance Sheet Effects," NBER Working Papers 11492, National Bureau of Economic Research, Inc.
    9. Seung-Gwan Baek & Chi-Young Song, 2016. "On the Determinants of Surges and Stops in Foreign Loans: An Empirical Investigation," Open Economies Review, Springer, vol. 27(3), pages 405-445, July.
    10. Enrique G. Mendoza & Marco E. Terrones, 2012. "An Anatomy of Credits Booms and their Demise," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 15(2), pages 04-32, August.
    11. Calderón, César & Kubota, Megumi, 2013. "Sudden stops: Are global and local investors alike?," Journal of International Economics, Elsevier, vol. 89(1), pages 122-142.
    12. M. Ayhan Kose & Eswar Prasad & Kenneth S. Rogoff & Shang-Jin Wei, 2006. "Financial Globalization: A Reappraisal," NBER Working Papers 12484, National Bureau of Economic Research, Inc.
    13. José Osler Alzate Mahecha, 2013. "Sudden stops in emerging markets: How to minimize their impact on GDP?," Documentos CEDE 10547, Universidad de los Andes, Facultad de Economía, CEDE.
    14. Kristin J. Forbes & Francis E. Warnock, 2012. "Capital Debt -and Equity-Led Capital Flow Episodes," Working Papers Central Bank of Chile 676, Central Bank of Chile.
    15. Galindo, Arturo & Izquierdo, Alejandro & Montero, José Manuel, 2006. "Real Exchange Rates, Dollarization and Industrial Employment in Latin America," IDB Publications (Working Papers) 1943, Inter-American Development Bank.
    16. Edwards, Sebastian, 2007. "Capital controls, capital flow contractions, and macroeconomic vulnerability," Journal of International Money and Finance, Elsevier, vol. 26(5), pages 814-840, September.
    17. Enrique G. Mendoza & Marco E. Terrones, 2008. "An Anatomy Of Credit Booms: Evidence From Macro Aggregates And Micro Data," NBER Working Papers 14049, National Bureau of Economic Research, Inc.
    18. Guillermo A. Calvo, 2008. "Crises in Emerging Markets Economies: A Global Perspective," Central Banking, Analysis, and Economic Policies Book Series, in: Kevin Cowan & Sebastián Edwards & Rodrigo O. Valdés & Norman Loayza (Series Editor) & Klaus Schmidt- (ed.),Current Account and External Financing, edition 1, volume 12, chapter 3, pages 085-115, Central Bank of Chile.
    19. Yang, Haizhen & Shi, Fangfang & Wang, Jie & Jing, Zhongbo, 2019. "Investigating the relationship between financial liberalization and capital flow waves: A panel data analysis," International Review of Economics & Finance, Elsevier, vol. 59(C), pages 120-136.
    20. Eduardo Borensztein & Ugo Panizza, 2010. "Do Sovereign Defaults Hurt Exporters?," Open Economies Review, Springer, vol. 21(3), pages 393-412, July.
    21. Sorin Calea & Ioana Mihut & Mihaela Lutas, 2014. "The Sustainability Of Romania’S External Debt During The Recent Financial Crisis," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 6(2), pages 46-56, July.
    22. Cavallo, Eduardo A., 2008. "Output volatility and openness to trade: a reassessment," LSE Research Online Documents on Economics 123233, London School of Economics and Political Science, LSE Library.
    23. Burger, Martijn J. & Ianchovichina, Elena I., 2014. "Surges and stops in FDI flows to developing countries : does the mode of entry make a difference ?," Policy Research Working Paper Series 6771, The World Bank.
    24. Eguren-Martin, Fernando & O'Neill, Cian & Sokol, Andrej & von dem Berge, Lukas, 2024. "Capital flows-at-risk: Push, pull and the role of policy," Journal of International Money and Finance, Elsevier, vol. 147(C).
    25. Scheubel, Beatrice & Stracca, Livio, 2019. "What do we know about the global financial safety net? A new comprehensive data set," Journal of International Money and Finance, Elsevier, vol. 99(C).
    26. Nicolas Berman, 2009. "Financial Crises and International Trade: The Long Way to Recovery," Economics Working Papers ECO2009/23, European University Institute.
    27. Kristin J. Forbes & Francis E. Warnock, 2020. "Capital Flow Waves—or Ripples? Extreme Capital Flow Movements Since the Crisis," NBER Working Papers 26851, National Bureau of Economic Research, Inc.
    28. Jurgen Von Hagen & Iulia Siedschlag, 2008. "Managing Capital Flows: Experiences from Central and Eastern Europe," Papers WP234, Economic and Social Research Institute (ESRI).
    29. Alexander D. Rothenberg & Francis E. Warnock, 2011. "Sudden Flight and True Sudden Stops," Review of International Economics, Wiley Blackwell, vol. 19(3), pages 509-524, August.
    30. Bora Durdu & Enrique G. Mendoza & Marco E. Terrones, 2007. "Precautionary demand for foreign assets in sudden stop economies: an assessment of the new mercantilism," International Finance Discussion Papers 911, Board of Governors of the Federal Reserve System (U.S.).
    31. Peter Montiel, 2013. "The Simple Analytics of Sudden Stops," Open Economies Review, Springer, vol. 24(2), pages 267-281, April.
    32. Maya Eden, 2017. "Misallocation and the Distribution of Global Volatility," American Economic Review, American Economic Association, vol. 107(2), pages 592-622, February.
    33. Varela, Liliana, 2017. "Sector heterogeneity and credit market imperfections in emerging markets," LSE Research Online Documents on Economics 102061, London School of Economics and Political Science, LSE Library.
    34. Makrelov, Konstantin & Arndt, Channing & Davies, Rob & Harris, Laurence, 2020. "Balance sheet changes and the impact of financial sector risk-taking on fiscal multipliers," Economic Modelling, Elsevier, vol. 87(C), pages 322-343.
    35. Korinek, Anton, 2011. "Foreign currency debt, risk premia and macroeconomic volatility," European Economic Review, Elsevier, vol. 55(3), pages 371-385, April.
    36. Levan Efremidze & Samuel M. Schreyer & Ozan Sula, 2011. "Sudden stops and currency crises," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 3(4), pages 304-321, November.
    37. Barry Eichengreen & Poonam Gupta & Ashoka Mody, 2008. "Sudden Stops and IMF-Supported Programs," NBER Chapters, in: Financial Markets Volatility and Performance in Emerging Markets, pages 219-266, National Bureau of Economic Research, Inc.
    38. Ricardo Hausmann & Rodrigo Wagner & Francisco Rodriguez, 2006. "Growth Collapses," Growth Lab Working Papers 7, Harvard's Growth Lab.
    39. Bleakley, Hoyt & Cowan, Kevin, 2010. "Maturity mismatch and financial crises: Evidence from emerging market corporations," Journal of Development Economics, Elsevier, vol. 93(2), pages 189-205, November.
    40. Sara Guerschanik Calvo, 2010. "The Global Financial Crisis of 2008-10: A View from the Social Sectors," Human Development Research Papers (2009 to present) HDRP-2010-18, Human Development Report Office (HDRO), United Nations Development Programme (UNDP).
    41. Michael D. Bordo & Christopher M. Meissner, 2007. "Foreign Capital and Economic Growth in the First Era of Globalization," NBER Working Papers 13577, National Bureau of Economic Research, Inc.
    42. Carlos Alberto Piscarreta Pinto Ferreira, 2021. "Does Public Debt Ownership Structure Matter for a Borrowing Country?," Working Papers REM 2021/0190, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    43. Eduardo A. Cavallo & Jeffrey Frankel, 2007. "Does Openness to Trade Make Countries More Vulnerable to Sudden Stops, or Less? Using Gravity to Establish Causality," Research Department Publications 4544, Inter-American Development Bank, Research Department.
    44. Aizenman, Joshua & Chinn, Menzie David & Ito, Hiro, 2009. "Assessing the Emerging Global Financial Architecture: Measuring the Trilemma's Configurations over Time," Santa Cruz Department of Economics, Working Paper Series qt840728sc, Department of Economics, UC Santa Cruz.
    45. Charles Amo Yartey, 2012. "Barbados: Sectoral Balance Sheet Mismatches and Macroeconomic Vulnerabilities," IMF Working Papers 2012/031, International Monetary Fund.
    46. Mr. Tamon Asonuma & Mr. Marcos d Chamon & Aitor Erce & Akira Sasahara, 2019. "Costs of Sovereign Defaults: Restructuring Strategies, Bank Distress and the Capital Inflow-Credit Channel," IMF Working Papers 2019/069, International Monetary Fund.
    47. Luis Catão & Adrian Pagan, 2010. "The Credit Channel and Monetary Transmission in Brazil and Chile: A Structured VAR Approach," NCER Working Paper Series 53, National Centre for Econometric Research.
    48. Mahvash S Qureshi & Mr. Atish R. Ghosh & Mr. Juan Zalduendo & Mr. Jun I Kim, 2012. "Surges," IMF Working Papers 2012/022, International Monetary Fund.
    49. Laura Alfaro & Fabio Kanczuk, 2007. "Optimal Reserve Management and Sovereign Debt," NBER Working Papers 13216, National Bureau of Economic Research, Inc.
    50. Gervais, Olivier & Schembri, Lawrence & Suchanek, Lena, 2016. "Current account dynamics, real exchange rate adjustment, and the exchange rate regime in emerging-market economies," Journal of Development Economics, Elsevier, vol. 119(C), pages 86-99.
    51. Jinzhao Chen & Thérèse Quang, 2012. "International Financial Integration and Economic Growth: New Evidence on Threshold Effects," PSE Working Papers halshs-00710139, HAL.
    52. Eichengreen,Barry J. & Gupta,Poonam - DECOS, 2016. "Managing sudden stops," Policy Research Working Paper Series 7639, The World Bank.
    53. Yan, Ho-don, 2007. "Does capital mobility finance or cause a current account imbalance?," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(1), pages 1-25, March.
    54. Luca Fornaro, 2014. "Financial crises and exchange rate policy," Economics Working Papers 1431, Department of Economics and Business, Universitat Pompeu Fabra, revised Nov 2014.
    55. Wibbels, Erik, 2006. "Dependency Revisited: International Markets, Business Cycles, and Social Spending in the Developing World," International Organization, Cambridge University Press, vol. 60(2), pages 433-468, April.
    56. Ricardo Caballero & Kevin Cowan, 2006. "Financial Integration Without the Volatility," Working Papers Central Bank of Chile 387, Central Bank of Chile.
    57. Kevin Cowan & José De Gregorio, 2007. "International Borrowing, Capital Controls, and the Exchange Rate: Lessons from Chile," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 241-296, National Bureau of Economic Research, Inc.
    58. Ashima Goyal, 2012. "The Future Of Financial Liberalization In South Asia," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 19(1), pages 63-96, June.
    59. Pierri, Damian Rene & Montes Rojas, Gabriel & Mira, José, 2020. "Persistent current account deficits and balance of payments crises," UC3M Working papers. Economics 34239, Universidad Carlos III de Madrid. Departamento de Economía.
    60. Mr. David J Hofman & Mr. Ruben V Atoyan & Dimitri Tzanninis & Mr. Mauro Mecagni, 2007. "The Duration of Capital Account Crises—An Empirical Analysis," IMF Working Papers 2007/258, International Monetary Fund.
    61. Edwards, Sebastian, 2006. "The U.S. current account deficit: Gradual correction or abrupt adjustment?," Journal of Policy Modeling, Elsevier, vol. 28(6), pages 629-643, September.
    62. Javier Gómez Pineda, 2004. "A Framework for Macroeconomic Stability in Emerging Market Economies," Borradores de Economia 1915, Banco de la Republica.
    63. Jeffrey A. Frankel, 2010. "Monetary Policy in Emerging Markets: A Survey," NBER Working Papers 16125, National Bureau of Economic Research, Inc.
    64. Kenza Benhima & Olena Havrylchyk, 2010. "When Do Long‐term Imbalances Lead to Current Account Reversals?," The World Economy, Wiley Blackwell, vol. 33(1), pages 107-128, January.
    65. Mohseni-Cheraghlou, Amin, 2016. "The Aftermath of Financial Crises: A Look on Human and Social Wellbeing," World Development, Elsevier, vol. 87(C), pages 88-106.
    66. Sebastian Edwards, 2007. "Capital Controls, Sudden Stops, and Current Account Reversals," NBER Chapters, in: Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences, pages 73-120, National Bureau of Economic Research, Inc.
    67. Ana Fostel & John Geanakoplos, 2008. "Emerging Markets in an Anxious Global Economy," Levine's Working Paper Archive 122247000000002074, David K. Levine.
    68. Francisco Gallego & Geraint Jones, 2006. "Exchange Rate Interventions and Insurance: Is Fear of Floating a Cause for Concern?," Central Banking, Analysis, and Economic Policies Book Series, in: Ricardo Caballero & César Calderón & Luis Felipe Céspedes & Norman Loayza (Series Editor) & Klaus Sc (ed.),External Vulnerability and Preventive Policies, edition 1, volume 10, chapter 11, pages 353-398, Central Bank of Chile.
    69. Manuel Agosin & Franklin Huaita, 2009. "Overreaction in capital flows to emerging markets: Booms and sudden stops," Working Papers wp295, University of Chile, Department of Economics.
    70. Reinhart, Carmen & Reinhart, Vincent, 1998. "“Some Lessons for Policy Makers Who Deal with the Mixed Blessing of Capital Inflows,”," MPRA Paper 7123, University Library of Munich, Germany.
    71. Mr. Serkan Arslanalp & Mr. Takahiro Tsuda, 2012. "Tracking Global Demand for Advanced Economy Sovereign Debt," IMF Working Papers 2012/284, International Monetary Fund.
    72. Benigno, Gianluca & Fornaro, Luca & Converse, Nathan, 2015. "Large Capital Inflows, Sectoral Allocation and Economic Performance," CEPR Discussion Papers 10554, C.E.P.R. Discussion Papers.
    73. Juan Andrés Espinosa-Torres & Jose E. Gomez-Gonzalez & Luis Fernando Melo-Velandia & José Fernando Moreno-Gutiérrez, 2015. "The International Transmission of Risk: Causal Relations Among Developed and Emerging Countries’ Term Premia," Borradores de Economia 869, Banco de la Republica de Colombia.
    74. Eduardo A. Cavallo & Alberto Cavallo, 2008. "Are Crises Good for Long-Term Growth? The Role of Political Institutions," Research Department Publications 4589, Inter-American Development Bank, Research Department.
    75. Mr. Francisco Roch & Harald Uhlig, 2016. "The Dynamics of Sovereign Debt Crises and Bailouts," IMF Working Papers 2016/136, International Monetary Fund.
    76. Eduardo A. Cavallo, 2006. "Trade, Gravity and Sudden Stops: On How Commercial Trade Can Increase the Stability of Capital Flows," Research Department Publications 4491, Inter-American Development Bank, Research Department.
    77. MacKay, Julie & Volz, Ulrich & Wölfinger, Regine, 2010. "Regional financing arrangements and the stability of the international monetary system," IDOS Discussion Papers 13/2010, German Institute of Development and Sustainability (IDOS).
    78. Sophia Lazaretou, 2011. "Financial crises and financial market regulation: the long record of an ‘emerger’," Working Papers 140, Bank of Greece.
    79. Rodrigo Valdés P., 2007. "Policy Responses to Sudden Stops in Capital Flows: The Case Of Chile In 1998," Working Papers Central Bank of Chile 430, Central Bank of Chile.
    80. Karlygash Kuralbayeva & David Vines, 2008. "Shocks to Terms of Trade and Risk-premium in an Intertemporal Model: The Dutch Disease and a Dutch Party," Open Economies Review, Springer, vol. 19(3), pages 277-303, July.
    81. Miguel Lebre De Freitas & Luis Catela Nunes & Madalena Sampaio Rodrigues, 2018. "Euro Area Membership and the Probability of a Sudden Stop: An Empirical Assessment," Journal of Common Market Studies, Wiley Blackwell, vol. 56(4), pages 818-836, May.
    82. Jean-Pierre Allegret & Alain Sand-Zantman, 2009. "Does a Monetary Union protect again shocks? An assessment of Latin American integration," Post-Print halshs-00371069, HAL.
    83. Davide Romelli & Cristina Terra & Enrico Vasconcelos, 2016. "Current Account and Real Exchange Rate changes: the impact of trade openness," Working Papers Series 437, Central Bank of Brazil, Research Department.
    84. Matthieu Bussière, 2013. "Balance of payment crises in emerging markets: how early were the ‘early’ warning signals?," Applied Economics, Taylor & Francis Journals, vol. 45(12), pages 1601-1623, April.
    85. Nguyen, Thanh Cong & Castro, Vítor & Wood, Justine, 2022. "A new comprehensive database of financial crises: Identification, frequency, and duration," Economic Modelling, Elsevier, vol. 108(C).
    86. Elbadawi, Ibrahim & Amin, Magdi & Elobaid, Amir & Alhelo, Alzaki & Osman, Abdelrahman & Suliman, Kabbashi, 2023. "Post-Conflict Reconstruction, Stabilization, And Growth Agenda For Sudan," FDL Policy Notes 2312, CEPREMAP.
    87. Mr. Harun Alp & Mr. Selim A Elekdag, 2012. "Shock Therapy! What Role for Thai Monetary Policy?," IMF Working Papers 2012/269, International Monetary Fund.
    88. Eicher, Theo S. & Schubert, Stefan F. & Turnovsky, Stephen J., 2008. "Dynamic effects of terms of trade shocks: The impact on debt and growth," Journal of International Money and Finance, Elsevier, vol. 27(6), pages 876-896, October.
    89. Thorvaldur Gylfason & Gylfi Zoega, 2017. "The Dutch Disease in Reverse: Iceland's Natural Experiment," CESifo Working Paper Series 6513, CESifo.
    90. Matteo Bugamelli & Francesco Paternò, 2006. "Do Workers' Remittances Reduce the Probability of Current Account Reversals?," CEP Discussion Papers dp0714, Centre for Economic Performance, LSE.
    91. Yannick Kalantzis, 2015. "Financial Fragility in Small Open Economies: Firm Balance Sheets and the Sectoral Structure," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 82(3), pages 1194-1222.
    92. Farboodi, Maryam & Kondor, Peter, 2018. "Heterogeneous global cycles," LSE Research Online Documents on Economics 118911, London School of Economics and Political Science, LSE Library.
    93. Erdal ÖZMEN & Cihan YALÇIN, 2007. "Küresel finansal riskler karşısında Türkiye’de reel sektörün finansal yapısı ve borç dolarizasyonu," Iktisat Isletme ve Finans, Bilgesel Yayincilik, vol. 22(258), pages 5-39.
    94. Bineau, Yannick, 2008. "Équilibre extérieur et taux de change réel : apport du modèle de croissance contrainte par la balance des paiements," L'Actualité Economique, Société Canadienne de Science Economique, vol. 84(3), pages 263-285, septembre.
    95. Barry Eichengreen, 2006. "Insurance Underwriter or Financial Development Fund: What Role for Reserve Pooling in Latin America?," NBER Working Papers 12451, National Bureau of Economic Research, Inc.
    96. Yung, Kenneth & Li, DeQing Diane & Jian, Yi, 2015. "The value of corporate financial flexibility in emerging countries," Journal of Multinational Financial Management, Elsevier, vol. 32, pages 25-41.
    97. Batjargal, Dulamzaya & Doojav, Gan-Ochir, 2020. "Measuring Sudden Stops in Mongolia," MPRA Paper 105115, University Library of Munich, Germany.
    98. Moura, Guilherme V. & Richard, Jean-François & Liesenfeld, Roman, 2007. "Dynamic Panel Probit Models for Current Account Reversals and their Efficient Estimation," Economics Working Papers 2007-11, Christian-Albrechts-University of Kiel, Department of Economics.
    99. Mr. Fabio Comelli, 2015. "Estimation and out-of-sample Prediction of Sudden Stops: Do Regions of Emerging Markets Behave Differently from Each Other?," IMF Working Papers 2015/138, International Monetary Fund.
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    101. Davide Furceri & Stéphanie Guichard & Elena Rusticelli, 2011. "Episodes of Large Capital Inflows and the Likelihood of Banking and Currency Crises and Sudden Stops," OECD Economics Department Working Papers 865, OECD Publishing.
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    103. Julie McKay & Ulrich Volz & Regine Wölfinger, 2011. "Regional Financing Arrangements and the IMF," Chapters, in: Ulrich Volz (ed.), Regional Integration, Economic Development and Global Governance, chapter 10, Edward Elgar Publishing.
    104. Mengting Zhang & Andreas Steiner & Jakob de Haan & Haizhen Yang, 2024. "Capital Flow Reversals and Currency Crises: Do Capital Flow Types Matter?," CESifo Working Paper Series 11008, CESifo.
    105. Carmen M. Reinhart, 2022. "From Health Crisis to Financial Distress," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 70(1), pages 4-31, March.
    106. Mr. Stephan Danninger & Ms. Irina Tytell & Mr. Ravi Balakrishnan & Mr. Selim A Elekdag, 2009. "The Transmission of Financial Stress from Advanced to Emerging Economies," IMF Working Papers 2009/133, International Monetary Fund.
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    387. Bozhechkova, Alexandra (Божечкова, Александра) & Goryunov, Evgeny (Горюнов, Евгений) & Sinelnikov-Murylev, Sergey (Синельников-Мурылев, Сергей) & Trunin, Pavel V. (Трунин, Павел), 2017. "Capital Controls: World Experience and Lessons for Russia [Ограничения На Движение Капитала: Мировой Опыт И Уроки Для России]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 8-43, April.
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    389. Magud, Nicolas E. & Vesperoni, Esteban R., 2015. "Exchange rate flexibility and credit during capital inflow reversals: Purgatory … not paradise," Journal of International Money and Finance, Elsevier, vol. 55(C), pages 88-110.
    390. Zhongyuan Geng & Xuan Liu, 2019. "Optimal input trade policy under economic uncertainties in a small open economy," Applied Economics, Taylor & Francis Journals, vol. 51(20), pages 2155-2171, April.
    391. Döhrn, Roland & an de Meulen, Philipp & Grozea-Helmenstein, Daniela & Kitlinski, Tobias & Schmidt, Torsten & Vosen, Simeon & Zwick, Lina, 2013. "Die wirtschaftliche Entwicklung im Ausland: Wieder stärkere Expansion in den Industrieländern," RWI Konjunkturberichte, RWI - Leibniz-Institut für Wirtschaftsforschung, vol. 64(3), pages 5-40.
    392. Joshua Aizenman & Brian Pinto & Vladyslav Sushko, 2011. "Financial Sector Ups and Downs and the Real Sector: Up by the stairs, down by the parachute," NBER Working Papers 17530, National Bureau of Economic Research, Inc.
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    395. Puspa D. Amri & Greg M. Richey & Thomas D. Willett, 2016. "Capital Surges and Credit Booms: How Tight is the Relationship?," Open Economies Review, Springer, vol. 27(4), pages 637-670, September.
    396. Bos, J.W.B. & Economidou, C. & Zhang, L., 2011. "Specialization in the presence of trade and financial integration: explorations of the integration-specialization nexus," Research Memorandum 026, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    397. Schclarek, Alfredo & Xu, Jiajun, 2022. "Exchange rate and balance of payment crisis risks in the global development finance architecture," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 79(C).
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    400. Martijn J. Burger & Elena I. Ianchovichina, 2017. "Surges and stops in greenfield and M&A FDI flows to developing countries: analysis by mode of entry," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 153(2), pages 411-432, May.
    401. José Osler Alzate Mahecha, 2011. "Salidas súbitas de capital en mercados emergentes: ¿cómo minimizar el impacto sobre la economía real?," Revista Desarrollo y Sociedad, Universidad de los Andes,Facultad de Economía, CEDE, May.
    402. Stracca, Livio & Scheubel, Beatrice, 2016. "What do we know about the global financial safety net? Rationale, data and possible evolution," Occasional Paper Series 177, European Central Bank.
    403. de la Torre, Augusto & Didier, Tatiana & Pinat, Magali, 2014. "Can Latin America tap the globalization upside ?," Policy Research Working Paper Series 6837, The World Bank.
    404. Shankar, Rashmi, 2005. "Insurance and liquidity : panel evidence," Policy Research Working Paper Series 3648, The World Bank.
    405. Dell'Erba, Salvatore & Reinhardt, Dennis, 2015. "FDI, debt and capital controls," Journal of International Money and Finance, Elsevier, vol. 58(C), pages 29-50.
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    408. Marcelin, Isaac & Mathur, Ike, 2016. "Financial sector development and dollarization in emerging economies," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 20-32.
    409. Nir Jaimovich & Sergio Rebelo, 2008. "News and Business Cycles in Open Economies," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(8), pages 1699-1711, December.
    410. Mr. Paolo Mauro & Mr. Andrei A Levchenko, 2006. "Do Some Forms of Financial Flows Help Protect From Sudden Stops?," IMF Working Papers 2006/202, International Monetary Fund.
    411. De Gregorio, José & Loayza, Norman V., 2008. "Comments," LSE Research Online Documents on Economics 123268, London School of Economics and Political Science, LSE Library.
    412. Kevin Cowan & Erwin Hansen & Luis Oscar Herrera, 2005. "Descalces cambiarios, repercusiones en el balance general y protección contra el riesgo en empresas no financieras chilenas," Research Department Publications 4388, Inter-American Development Bank, Research Department.
    413. EDWARDS, Jeffrey, 2009. "Trading Partner Volatility And The Ability For A Country To Cope: A Panel Gmm Model, 1970-2005," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 9(2).
    414. Nombulelo BRAITON & Nicholas M. ODHIAMBO, 2024. "Capital Flows And Institutional Quality: A Systematic Literature Review," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 9(1), pages 113-123, March.

  40. Schmitt-Grohe, Stephanie & Uribe, Martin, 2003. "Closing small open economy models," Journal of International Economics, Elsevier, vol. 61(1), pages 163-185, October.
    See citations under working paper version above.
  41. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2003. "Backward-looking interest-rate rules, interest-rate smoothing, and macroeconomic instability," Proceedings, Federal Reserve Bank of Cleveland, pages 1379-1423.
    See citations under working paper version above.
  42. Uribe, Martin, 2003. "Real exchange rate targeting and macroeconomic instability," Journal of International Economics, Elsevier, vol. 59(1), pages 137-159, January.
    See citations under working paper version above.
  43. Jess Benhabib & Stephanie Schmitt-Grohé & Martín Uribe, 2002. "Chaotic Interest-Rate Rules," American Economic Review, American Economic Association, vol. 92(2), pages 72-78, May.
    See citations under working paper version above.
  44. Uribe, Martin, 2002. "The price-consumption puzzle of currency pegs," Journal of Monetary Economics, Elsevier, vol. 49(3), pages 533-569, April.

    Cited by:

    1. Kareen Rozen, 2010. "Foundations of Intrinsic Habit Formation," Econometrica, Econometric Society, vol. 78(4), pages 1341-1373, July.
    2. Richard Dennis, 2009. "Consumption Habits in a New Keynesian Business Cycle Model," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(5), pages 1015-1030, August.
    3. Francisco Venegas-Martinez & Ambrosio Ortiz-Ramirez & Francisco Ortiz-Arango, 2012. "Temporary stabilization: a Frechet-Weibullextreme value distribution approach," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 9(1), pages 35-55, Enero-Jun.
    4. Chugh, Sanjay K., 2008. "Relative consumption benchmarks," Economics Letters, Elsevier, vol. 100(2), pages 204-207, August.
    5. Edward F. Buffie & Manoj Atolia, 2005. "Exchange-Rate-Based Stabilization, Durables Consumption, and the Stylized Facts," Working Papers wp2005_12_01, Department of Economics, Florida State University, revised Jan 2009.
    6. Gopinath, Gita, 2003. "Lending Booms, Sharp Reversals and Real Exchange Rate Dynamics," Scholarly Articles 11988005, Harvard University Department of Economics.
    7. Diego N. Moccero, 2006. "The Intertemporal Approach to the Current Account: Evidence from Argentina," Department of Economics, Working Papers 066, Departamento de Economía, Facultad de Ciencias Económicas, Universidad Nacional de La Plata.
    8. Calvo, Guillermo A. & Izquierdo, Alejandro & Mejía, Luis Fernando, 2004. "On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects," IDB Publications (Working Papers) 1485, Inter-American Development Bank.
    9. Martin Uribe & Vivian Z. Yue, 2003. "Country spreads and emerging countries," Working Paper Series 2004-32, Federal Reserve Bank of San Francisco.
    10. Mohsin, Mohammed & Park, Kihyun, 2015. "Monetary policy in a two-sector dependent economy," Economic Modelling, Elsevier, vol. 46(C), pages 118-129.
    11. Shu-Hua Chen, 2012. "On the Growth and Stability Effects of Habit Formation and Durability in Consumption," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 283-298, November.
    12. Aytac, Ozlem, 2015. "A model of a heterodox exchange rate based stabilization," Economic Modelling, Elsevier, vol. 46(C), pages 100-117.
    13. Martin Uribe & Vivian Z. Yue, 2004. "Country spreads and emerging countries: who drives whom?," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
    14. Edward F. Buffie & Manoj Atolia, 2006. "Resurrecting the Weak Credibility Hypothesis in Models of Exchange-Rate-Based Stabilization," Working Papers wp2009_01_03, Department of Economics, Florida State University, revised Aug 2007.
    15. Kolver Hernandez, 2006. "State-Dependent Nominal Rigidities & Disinflation Programs in Small Open Economies," Working Papers 06-13, University of Delaware, Department of Economics.
    16. Liu, Jingyi, 2008. "Can a Lucas model with habit generate realistic conditional volatility in exchange rate returns?," SIRE Discussion Papers 2008-07, Scottish Institute for Research in Economics (SIRE).
    17. Masako Ikefuji & Kazuo Mino, 2009. "Internal vs. External Habit Formation in a Growing Economy with Overlapping Generations," ISER Discussion Paper 0750, Institute of Social and Economic Research, The University of Osaka.
    18. Shreekar Pradhan & J. Scott Holladay & Mohammed Mohsin & Shreekar Pradhan, 2015. "Environmental Policy Instruments and Uncertainties Under Free Trade and Capital Mobility," EcoMod2015 8102, EcoMod.
    19. Piersanti, Giovanni, 2012. "The Macroeconomic Theory of Exchange Rate Crises," OUP Catalogue, Oxford University Press, number 9780199653126, Decembrie.
    20. Cai, Zongwu & Liu, Xuan & Yang, Fang, 2012. "Reexamining the Empirical Relevance of Habit Formation Preferences," MPRA Paper 37817, University Library of Munich, Germany.
    21. Jingyi Liu, 2008. "Can a Lucas model with habit generate realistic conditional volatility in exchange rate returns?," Edinburgh School of Economics Discussion Paper Series 181, Edinburgh School of Economics, University of Edinburgh.
    22. Tahir Mukhtar & Aliya H. Khan, 2011. "The Current Account Dynamics in Pakistan: An Intertemporal Optimisation Perspective," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 50(4), pages 401-421.
    23. Fang Yang & Xuan Liu & Zongwu Cai, 2013. "Does Relative Risk Aversion Vary with Wealth? Evidence from Households' Portfolio Choice Data," Departmental Working Papers 2013-09, Department of Economics, Louisiana State University.
    24. Nutahara, Kengo, 2010. "Internal and external habits and news-driven business cycles," Economics Letters, Elsevier, vol. 107(2), pages 300-303, May.
    25. Rudolfs Bems, 2008. "Aggregate Investment Expenditures on Tradable and Nontradable Goods," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(4), pages 852-883, October.
    26. Gerelt Tserenjigmid, 2020. "On the characterization of linear habit formation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 70(1), pages 49-93, July.
    27. Faria, Joao Ricardo & Mollick, Andre Varella, 2004. "The nominal theory of interest under habit formation: evidence for the U.S., 1959-2002," The North American Journal of Economics and Finance, Elsevier, vol. 15(3), pages 333-354, December.
    28. Christian Pierdzioch, 2007. "Households' Preferences and Exchange Rate Overshooting," International Economic Journal, Taylor & Francis Journals, vol. 21(2), pages 297-316.

  45. Jess Benhabib & Stephanie Schmitt-Grohe & Martin Uribe, 2002. "Avoiding Liquidity Traps," Journal of Political Economy, University of Chicago Press, vol. 110(3), pages 535-563, June.
    See citations under working paper version above.
  46. Stephanie Schmitt-Grohe & Jess Benhabib & Martin Uribe, 2001. "Monetary Policy and Multiple Equilibria," American Economic Review, American Economic Association, vol. 91(1), pages 167-186, March.
    See citations under working paper version above.
  47. Benhabib, Jess & Schmitt-Grohe, Stephanie & Uribe, Martin, 2001. "The Perils of Taylor Rules," Journal of Economic Theory, Elsevier, vol. 96(1-2), pages 40-69, January.
    See citations under working paper version above.
  48. Schmitt-Grohe, Stephanie & Uribe, Martin, 2001. "Stabilization Policy and the Costs of Dollarization," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(2), pages 482-509, May.
    See citations under working paper version above.
  49. Schmitt-Grohe, Stephanie & Uribe, Martin, 2000. "Price level determinacy and monetary policy under a balanced-budget requirement," Journal of Monetary Economics, Elsevier, vol. 45(1), pages 211-246, February.
    See citations under working paper version above.
  50. Mendoza, Enrique G. & Uribe, Martin, 2000. "Devaluation risk and the business-cycle implications of exchange-rate management," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 53(1), pages 239-296, December.

    Cited by:

    1. Anamaría Pieschacón, 2009. "Implementable Fiscal Rules for an Oil-Exporting Small Open Economy Facing Depletion," OxCarre Working Papers 019, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
    2. Mr. Timothy D. Lane & Mr. Leslie Lipschitz & Ms. Cristina Arellano & Mr. Aleš Bulíř, 2005. "The Dynamic Implications of Foreign Aid and Its Variability," IMF Working Papers 2005/119, International Monetary Fund.
    3. Cristina Arellano & Enrique Mendoza, 2002. "Fricciones crediticias y 'paradas repentinas' en pequeñas economías abiertas: un marco de equilibrio del ciclo económico para crisis en mercados emergentes," Research Department Publications 4308, Inter-American Development Bank, Research Department.
    4. Francisco Venegas-Martinez & Ambrosio Ortiz-Ramirez & Francisco Ortiz-Arango, 2012. "Temporary stabilization: a Frechet-Weibullextreme value distribution approach," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 9(1), pages 35-55, Enero-Jun.
    5. Richard E. Ericson & Xuan Liu, 2012. "Welfare effect of interest rate shocks and policy implications," Applied Financial Economics, Taylor & Francis Journals, vol. 22(22), pages 1899-1917, November.
    6. Kumhof, Michael & Li, Shujing & Yan, Isabel, 2007. "Balance of payments crises under inflation targeting," Journal of International Economics, Elsevier, vol. 72(1), pages 242-264, May.
    7. Ahmet Faruk Aysan, 2007. "Exchange Rates, Stabilisation Policy and Redistribution of Income," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 1(3), pages 267-298, July.
    8. Schmitt-Grohe, Stephanie & Uribe, Martin, 2003. "Closing small open economy models," Journal of International Economics, Elsevier, vol. 61(1), pages 163-185, October.
    9. Aysan, Ahmet Faruk, 2006. "Distributional Effects of Boom-Bust Cycles in Developing Countries with Financial Frictions," MPRA Paper 5484, University Library of Munich, Germany.
    10. Shreekar Pradhan & S. Holladay & M. Mohsin, 2017. "Environmental Policy Instruments Response to Trade Shocks," EcoMod2017 10233, EcoMod.
    11. Gopinath, Gita, 2003. "Lending Booms, Sharp Reversals and Real Exchange Rate Dynamics," Scholarly Articles 11988005, Harvard University Department of Economics.
    12. International Monetary Fund, 2005. "Net Foreign Asset Positions and Consumption Dynamics in the International Economy," IMF Working Papers 2005/082, International Monetary Fund.
    13. Olivier CARDI & Romain RESTOUT, 2013. "Imperfect Mobility of Labor across Sectors: a Reappraisal of the Balassa-Samuelson Effect," LIDAM Discussion Papers IRES 2013002, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    14. Chung, Keunsuk & Turnovsky, Stephen J., 2010. "Foreign debt supply in an imperfect international capital market: Theory and evidence," Journal of International Money and Finance, Elsevier, vol. 29(2), pages 201-223, March.
    15. Enrique G. Mendoza, 2005. "Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies," NBER Working Papers 11691, National Bureau of Economic Research, Inc.
    16. Enrique Mendoza, 2002. "Why Should Emerging Economies Give Up National Currencies? A Case for Institutions Substitution," Research Department Publications 4309, Inter-American Development Bank, Research Department.
    17. Enrique G. Mendoza, 2000. "On the Instability of Variance Decompositions of the Real Exchange Rate across Exchange-Rate-Regimes: Evidence from Mexico and the United States," NBER Working Papers 7768, National Bureau of Economic Research, Inc.
    18. Mr. David Cook & Woon Gyu Choi, 2002. "Liability Dollarization and the Bank Balance Sheet Channel," IMF Working Papers 2002/141, International Monetary Fund.
    19. Ana María Tribín-Uribe, Achyuta Adhvaryu, Cesar Anzola-Bravo & Oscar Ávila-Montealegre, Leonardo Bonilla-Mejía, Juan Carlos Castro-Fernández & Luz A. Flórez, Ánderson Grajales-Olarte, Alexander Guarín, 2020. "Migración desde Venezuela en Colombia: caracterización del fenómeno y análisis de los efectos macroeconómicos," Revista ESPE - Ensayos Sobre Política Económica, Banco de la República, issue 97, pages 1-74, October.
    20. Enrique G. Mendoza, 2002. "Credit, Prices, and Crashes: Business Cycles with a Sudden Stop," NBER Chapters, in: Preventing Currency Crises in Emerging Markets, pages 335-392, National Bureau of Economic Research, Inc.
    21. Fizza Malik, 2016. "Modeling Dynamics of Exchange Rates Volatility: A Case of Pakistan from 1980-2010," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 5(3), pages 144-161, September.
    22. Sunel, Enes, 2010. "On inflation, wealth inequality and welfare in emerging economies," MPRA Paper 25943, University Library of Munich, Germany.
    23. Marques, Luis B, 2007. "The Costs to Consumers of a Depreciated Conversion Rate to the Euro," MPRA Paper 5723, University Library of Munich, Germany.
    24. Douch, Mohamed, 2004. "Equity Premiums In Small Open Economy," MPRA Paper 14613, University Library of Munich, Germany.
    25. Gover Barja Daza & Javier Monterrey Arce & Sergio Villarroel Bohrt, 2005. "The Elasticity of Substitution in Demand for Non-Tradable Goods in Bolivia," Research Department Publications 3181, Inter-American Development Bank, Research Department.
    26. Paul Luk & David Vines, 2014. "Debt Deleveraging and the Zero Bound: Potentially Perverse Effects of Real Exchange Rate Movements," Working Papers 202014, Hong Kong Institute for Monetary Research.
    27. Ahmet Faruk Aysan, 2006. "The Role of Distribution of the Income Shares of Individuals in Tradables and Nontradables on Exchange Rate Fluctuations and Delay of Stabilizations," Working Papers 2006/11, Bogazici University, Department of Economics.
    28. Kyriacos Lambrias, 2013. "News Shocks, Real Exchange Rates and International Co-Movements," BCL working papers 83, Central Bank of Luxembourg.
    29. Uribe, Martin, 2003. "Real exchange rate targeting and macroeconomic instability," Journal of International Economics, Elsevier, vol. 59(1), pages 137-159, January.
    30. Ghironi, Fabio, 2008. "The role of net foreign assets in a New Keynesian small open economy model," Journal of Economic Dynamics and Control, Elsevier, vol. 32(6), pages 1780-1811, June.
    31. Enrique Mendoza, 2002. "¿Por qué deben las economías emergentes renunciar a su moneda nacional? El argumento a favor," Research Department Publications 4310, Inter-American Development Bank, Research Department.
    32. Ghironi, Fabio & Iscan, Talan B. & Rebucci, Alessandro, 2008. "Net foreign asset positions and consumption dynamics in the international economy," Journal of International Money and Finance, Elsevier, vol. 27(8), pages 1337-1359, December.
    33. Piersanti, Giovanni, 2012. "The Macroeconomic Theory of Exchange Rate Crises," OUP Catalogue, Oxford University Press, number 9780199653126, Decembrie.
    34. Cristina Arellano & Enrique Mendoza, 2002. "Credit Frictions and 'Sudden Stops' in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises," Research Department Publications 4307, Inter-American Development Bank, Research Department.
    35. Hangyu Lee, 2014. "International Interest Rate Shocks and Monetary Policy in a Small Open Economy," Korean Economic Review, Korean Economic Association, vol. 30, pages 217-246.
    36. Gover Barja Daza & Javier Monterrey Arce & Sergio Villarroel Bohrt, 2005. "Elasticidad de la sustitución de bienes no transables en Bolivia," Research Department Publications 3182, Inter-American Development Bank, Research Department.
    37. Lambrias, Kyriacos, 2016. "Real exchange rates and international co-movement: news-shocks and non-tradable goods with complete markets," Working Paper Series 1946, European Central Bank.
    38. Boz, Emine & Daude, Christian & Bora Durdu, C., 2011. "Emerging market business cycles: Learning about the trend," Journal of Monetary Economics, Elsevier, vol. 58(6), pages 616-631.
    39. Juan Herreño & Carlos Rondón-Moreno, 2022. "Overborrowing and Systemic Externalities in the Business Cycle Under Imperfect Information," Working Papers Central Bank of Chile 940, Central Bank of Chile.
    40. Yukhov, Alexey, 2021. "Long-term implications of oil discoveries for international saving in a DSGE model," Journal of Macroeconomics, Elsevier, vol. 67(C).
    41. J. Scott Holladay & Mohammed Mohsin & Shreekar Pradhan, 2019. "Environmental Policy Instrument Choice and International Trade," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(4), pages 1585-1617, December.
    42. Liu, Xuan, 2007. "Trade Openness and the Cost of Sudden Stops: The Role of Financial Friction," MPRA Paper 18260, University Library of Munich, Germany, revised 26 Oct 2009.
    43. Kyriacos Lambrias, 2019. "Online Appendix to "Real exchange rates and international co-movement: News-shocks and non-tradable goods with complete markets"," Online Appendices 18-211, Review of Economic Dynamics.
    44. Bi, Huixin & Shen, Wenyi & Yang, Shu-Chun S., 2016. "Fiscal limits in developing countries: A DSGE Approach," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 119-130.
    45. Arend, Mario, 2009. "A Small Open Economy with Heterogenous Agents Facing Interest Rate Ceilings on Loans," MPRA Paper 19427, University Library of Munich, Germany.
    46. Rudolfs Bems, 2008. "Aggregate Investment Expenditures on Tradable and Nontradable Goods," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 11(4), pages 852-883, October.
    47. Gilberto E. Arce & Edgar Robles C., 2004. "The Elasticity of Substitution in Demand for Non-Tradable Goods in Costa Rica," Research Department Publications 3183, Inter-American Development Bank, Research Department.
    48. Faltermeier, Julia & Lama, Ruy & Medina, Juan Pablo, 2022. "Foreign exchange intervention for commodity booms and busts," European Economic Review, Elsevier, vol. 143(C).
    49. Sunel, Enes, 2012. "Transitional Dynamics of Disinflation in a Small Open Economy with Heterogeneous Agents," MPRA Paper 39690, University Library of Munich, Germany.
    50. Zhongyuan Geng & Xuan Liu, 2019. "Optimal input trade policy under economic uncertainties in a small open economy," Applied Economics, Taylor & Francis Journals, vol. 51(20), pages 2155-2171, April.
    51. Oya Celasun, 2003. "Sticky Inflation and the Real Effects of Exchange Rate Based Stabilization," IMF Working Papers 2003/151, International Monetary Fund.

  51. Uribe, Martin, 1999. "Comparing the welfare costs and initial dynamics of alternative inflation stabilization policies," Journal of Development Economics, Elsevier, vol. 59(2), pages 295-318, August.

    Cited by:

    1. Mr. A. J Hamann, 1999. "Exchange-Rate-Based Stabilization: A Critical Look at the Stylized Facts," IMF Working Papers 1999/132, International Monetary Fund.
    2. Laura Alfaro, 2002. "On the Political Economy of Temporary Stabilization Programs," Economics and Politics, Wiley Blackwell, vol. 14(2), pages 133-161, July.
    3. Stephanie Schmitt-Grohé & Martín Uribe, 2010. "Liquidity Traps: An Interest-Rate-Based Exit Strategy," NBER Working Papers 16514, National Bureau of Economic Research, Inc.
    4. Özbilgin, Murat H., 2012. "Currency substitution, inflation, and welfare," Journal of Development Economics, Elsevier, vol. 99(2), pages 358-369.
    5. Robertson, Raymond, 2003. "Exchange rates and relative wages: evidence from Mexico," The North American Journal of Economics and Finance, Elsevier, vol. 14(1), pages 25-48, March.
    6. Mr. A. J Hamann & Mr. Alessandro Prati, 2002. "Why Do Many Disinflations Fail? the Importance of Luck, Timing, and Political Institutions," IMF Working Papers 2002/228, International Monetary Fund.
    7. Kolver Hernandez, 2006. "State-Dependent Nominal Rigidities & Disinflation Programs in Small Open Economies," Working Papers 06-13, University of Delaware, Department of Economics.
    8. Mendoza, Enrique G. & Uribe, Martin, 2000. "Devaluation risk and the business-cycle implications of exchange-rate management," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 53(1), pages 239-296, December.
    9. H. Murat Ozbilgin, 2010. "Welfare Gains from Disinflation in an Economy With Currency Substitution (Para Ikamesinin Oldugu Bir Ekonomide Enflasyonun Dusurulmesinden Kaynaklanan Refah Kazanimlari)," Working Papers 1009, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    10. Selcuk, Faruk, 2003. "Currency substitution: new evidence from emerging economies," Economics Letters, Elsevier, vol. 78(2), pages 219-224, February.
    11. Nawaz A. Hakro & Wadho Waqar Ahmed, 2006. "IMF Stabilization Programs, Policy Conduct and Macroeconomic Outcomes: A Case Study of Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 11(1), pages 35-62, Jan-Jun.
    12. Palazzo, Gabriel & Rapetti, Martin & Waldman, Joaquin, 2025. "Stabilization programs in chronic-inflation countries: Evidence from Latin America," MPRA Paper 123716, University Library of Munich, Germany.
    13. Rapetti, Martin & Palazzo, Gabriel & Waldman, Joaquin, 2023. "Planes de estabilización: Evidencia de América Latina [Stabilization plans: Evidence from Latin America]," MPRA Paper 118910, University Library of Munich, Germany.

  52. Picone, Gabriel & Uribe, Martin & Mark Wilson, R., 1998. "The effect of uncertainty on the demand for medical care, health capital and wealth," Journal of Health Economics, Elsevier, vol. 17(2), pages 171-185, April.

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    1. Takao Asano & Akihisa Shibata, 2010. "Risk and Uncertainty in Health Investment," KIER Working Papers 696, Kyoto University, Institute of Economic Research.
    2. Ryoji Hasegawa & Masaya Yasuoka, 2020. "Long-term care insurance effects on Japan fs regional economy: an approach linking theoretical with empirical analysis," Discussion Paper Series 209, School of Economics, Kwansei Gakuin University.
    3. Rebecca Mary Myerson & Darius Lakdawalla & Lisandro D. Colantonio & Monika Safford & David Meltzer, 2018. "Effects of Expanding Health Screening on Treatment - What Should We Expect? What Can We Learn?," NBER Working Papers 24347, National Bureau of Economic Research, Inc.
    4. Michael Grossman, 1999. "The Human Capital Model of the Demand for Health," NBER Working Papers 7078, National Bureau of Economic Research, Inc.
    5. Christian Dustmann & Frank Windmeijer, 2000. "Wages and the demand for health - a life cycle analysis," IFS Working Papers W99/20, Institute for Fiscal Studies.
    6. Cinzia Di Novi, 2007. "An Economic Evaluation of Life-Style and Air-pollution-related Damages: Results from the BRFSS," JEPS Working Papers 07-001, JEPS.
    7. Feldman, Maria & Fehr, Hans, 2021. "Financing Universal Health Care: Premiums or Payroll Taxes?," VfS Annual Conference 2021 (Virtual Conference): Climate Economics 242387, Verein für Socialpolitik / German Economic Association.
    8. Bolin, Kristian & Jacobson, Lena & Lindgren, Bjorn, 2002. "Employer investments in employee health: Implications for the family as health producer," Journal of Health Economics, Elsevier, vol. 21(4), pages 563-583, July.
    9. Harris, Matthew & Kohn, Jennifer, 2015. "Reference dependent utility from health and the demand for medical care," MPRA Paper 61926, University Library of Munich, Germany.
    10. Strulik, Holger, 2015. "Frailty, mortality, and the demand for medical care," The Journal of the Economics of Ageing, Elsevier, vol. 6(C), pages 5-12.
    11. Beni­tez-Silva, Hugo & Ni, Huan, 2008. "Health status and health dynamics in an empirical model of expected longevity," Journal of Health Economics, Elsevier, vol. 27(3), pages 564-584, May.
    12. Ryan D. Edwards, 2010. "Optimal portfolio choice when utility depends on health," International Journal of Economic Theory, The International Society for Economic Theory, vol. 6(2), pages 205-225, June.
    13. Robert Rosenman, 2009. "The Public Finance of Healthy Behavior," Working Papers 2009-18, School of Economic Sciences, Washington State University.
    14. Nocetti Diego & Smith William T, 2010. "Uncertainty, the Demand for Health Care, and Precautionary Saving," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 10(1), pages 1-31, August.
    15. Halliday, Timothy J. & He, Hui & Zhang, Hao, 2009. "Health Investment over the Life-Cycle," IZA Discussion Papers 4482, Institute of Labor Economics (IZA).
    16. Gustav Kjellsson & Dennis Petrie & Tom (T.G.M.) van Ourti, 2018. "Measuring income-related inequalities in risky health prospects," Tinbergen Institute Discussion Papers 18-007/V, Tinbergen Institute.
    17. Jay Chok & Jifeng Qian, 2013. "Do Executives' Backgrounds Matter to IPO Investors? Evidence from the Life Science Industry," PLOS ONE, Public Library of Science, vol. 8(5), pages 1-13, May.
    18. Iván Major, 2019. "Two-Sided Information Asymmetry in the Healthcare Industry," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 25(2), pages 177-193, May.
    19. Zhou, Jingkui, 2013. "Uncertainty, inequality and consumption preferences in urban China," Economic Modelling, Elsevier, vol. 31(C), pages 308-322.
    20. Pablo Garcia Sanchez & Luca Marchiori & Olivier Pierrard, 2025. "Long-term care expenditures and investment decisions under uncertainty," Journal of Population Economics, Springer;European Society for Population Economics, vol. 38(1), pages 1-23, March.
    21. Jacobson, Lena, 2000. "The family as producer of health -- an extended grossman model," Journal of Health Economics, Elsevier, vol. 19(5), pages 611-637, September.
    22. Richard Peter, 2021. "A fresh look at primary prevention for health risks," Health Economics, John Wiley & Sons, Ltd., vol. 30(5), pages 1247-1254, May.
    23. Zhigang Feng, 2009. "Macroeconomic Consequences of Alternative Reforms to the Health Insurance System in the U.S," Working Papers 0908, University of Miami, Department of Economics.
    24. Gupta, Aparna & Li, Lepeng, 2007. "Integrating long-term care insurance purchase decisions with saving and investment for retirement," Insurance: Mathematics and Economics, Elsevier, vol. 41(3), pages 362-381, November.
    25. Masaya Yasuoka, 2019. "Elderly Labor and Precautionary Saving," Discussion Paper Series 193, School of Economics, Kwansei Gakuin University.
    26. Patrick Michael Bernet, 2004. "The Influence of Prescription Drug Use on Long‐Term Care Insurance Ownership," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 7(2), pages 107-120, September.
    27. Ralph S. J. Koijen & Stijn Van Nieuwerburgh & Motohiro Yogo, 2014. "Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice," Staff Report 499, Federal Reserve Bank of Minneapolis.
    28. Motohiro Yogo, 2009. "Portfolio Choice in Retirement: Health Risk and the Demand for Annuities, Housing and Risky Assets," Working Papers, Center for Retirement Research at Boston College wp2009-3, Center for Retirement Research, revised Jan 2009.
    29. Burggraf, Christine, 2017. "Russian demand for dietary quality: Nutrition transition, diet quality measurement, and health investment theory," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 86, number 86.
    30. Gabriel Picone & Frank Sloan & Donald Taylor, 2004. "Effects of Risk and Time Preference and Expected Longevity on Demand for Medical Tests," Journal of Risk and Uncertainty, Springer, vol. 28(1), pages 39-53, January.
    31. Kong, Moon Kee & Lee, Jeong Yeon & Lee, Hoe Kyung, 2008. "Precautionary motive for saving and medical expenses under health uncertainty: Evidence from Korea," Economics Letters, Elsevier, vol. 100(1), pages 76-79, July.
    32. Bolin, Kristian & Lindgren, Björn, 2016. "Non-monotonic health behaviours – implications for individual health-related behaviour in a demand-for-health framework," Journal of Health Economics, Elsevier, vol. 50(C), pages 9-26.
    33. Koc, Cagatay, 2004. "A theoretical rationale for an inelastic demand for health care," Economics Letters, Elsevier, vol. 82(1), pages 9-14, January.
    34. Ariizumi, Hideki, 2008. "Effect of public long-term care insurance on consumption, medical care demand, and welfare," Journal of Health Economics, Elsevier, vol. 27(6), pages 1423-1435, December.
    35. Lukas, Daniel, 2010. "Patient autonomy and education in specific medical knowledge," Dresden Discussion Paper Series in Economics 07/10, Technische Universität Dresden, Faculty of Business and Economics, Department of Economics.
    36. Gupta, Aparna & Li, Zhisheng, 2011. "Calibration of a stochastic health evolution model using NHIS data," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 390(20), pages 3524-3540.
    37. Aniko Biro;, 2012. "An analysis of mammography decisions with a focus on educational differences," Health, Econometrics and Data Group (HEDG) Working Papers 12/11, HEDG, c/o Department of Economics, University of York.
    38. Julien Hugonnier & Florian Pelgrin & Pascal St-Amour, 2009. "Health and (other) Asset Holdings," Swiss Finance Institute Research Paper Series 09-18, Swiss Finance Institute.
    39. Glauben, Thomas & Grecksch, Wilfried & Burggraf, Christine, 2015. "Stochastic control of individual's health investments," EconStor Conference Papers 249588, ZBW - Leibniz Information Centre for Economics.
    40. Bolin, Kristian & Caputo, Michael R., 2020. "Consumption and investment demand when health evolves stochastically," Journal of Economic Dynamics and Control, Elsevier, vol. 114(C).
    41. Burggraf, Christine, 2017. "Russian demand for dietary quality: Nutrition transition, diet quality measurement, and health investment theory," Studies on the Agricultural and Food Sector in Transition Economies 269539, Institute of Agricultural Development in Transition Economies (IAMO).
    42. Wei Zheng & Patrick Paul Walsh, 2018. "Air pollution and health - A provincial level analysis of China," Working Papers 201819, Geary Institute, University College Dublin.
    43. Gauthier Tshiswaka-Kashalala & Steven F Koch, 2018. "The Demand for Reproductive Health Care," Journal of African Economies, Centre for the Study of African Economies, vol. 27(4), pages 405-429.
    44. Ryan D. Edwards, 2010. "Health, Income, and the Timing of Education Among Military Retirees," NBER Working Papers 15778, National Bureau of Economic Research, Inc.
    45. Tadashi Yamada & Tetsuji Yamada & Chia-Ching Chen & Weihong Zeng, 2014. "Determinants of health insurance and hospitalization," Cogent Economics & Finance, Taylor & Francis Journals, vol. 2(1), pages 1-27, December.
    46. Aparna Gupta & Zhisheng Li, 2013. "Optimal Annuity Purchase Decisions Under Uncertain Lifetime," Journal of Family and Economic Issues, Springer, vol. 34(4), pages 447-459, December.
    47. Li, Jian & Koulovatianos, Christos, 2020. "The long shadows of war in China: Battle shocks in early life and health/wealth accumulation," China Economic Review, Elsevier, vol. 60(C).
    48. Azomahou, Theophile & Soete, Luc & Diene, Bity & Diene, Mbaye, 2012. "Optimal health investment with separable and non-separable preferences," MERIT Working Papers 2012-047, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    49. Akpalu, Wisdom, 2008. "On the Economics of Rational Self-Medication," Sustainability Indicators and Environmental Valuation Working Papers 6363, Fondazione Eni Enrico Mattei (FEEM).
    50. Sidorenko, Alexandra, 2001. "Stochastic Model of Demand for Medical Care with Endogenous Labour Supply and Health Insurance," Departmental Working Papers 2001-08, The Australian National University, Arndt-Corden Department of Economics.
    51. Mingyong Hong & Ji Wang & Mengjie Tian, 2022. "Rural Social Security, Precautionary Savings, and the Upgrading of Rural Residents’ Consumption Structure in China," Sustainability, MDPI, vol. 14(19), pages 1-17, September.

  53. Schmitt-Grohe, Stephanie & Uribe, Martin, 1997. "Balanced-Budget Rules, Distortionary Taxes, and Aggregate Instability," Journal of Political Economy, University of Chicago Press, vol. 105(5), pages 976-1000, October.
    See citations under working paper version above.
  54. Uribe, Martin, 1997. "Exchange-rate-based inflation stabilization: The initial real effects of credible plans," Journal of Monetary Economics, Elsevier, vol. 39(2), pages 197-221, July.
    See citations under working paper version above.
  55. Uribe, Martin, 1997. "Hysteresis in a simple model of currency substitution," Journal of Monetary Economics, Elsevier, vol. 40(1), pages 185-202, September.
    See citations under working paper version above.

Software components

    Sorry, no citations of software components recorded.

Chapters

  1. Andrés Fernández & Stephanie Schmitt-Grohé & Martín Uribe, 2016. "World Shocks, World Prices, and Business Cycles: An Empirical Investigation," NBER Chapters, in: NBER International Seminar on Macroeconomics 2016, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  2. Stephanie Schmitt-Grohé & Martín Uribe, 2014. "Pegs, Downward Wage Rigidity and Unemployment: The Role of Financial Structure," Central Banking, Analysis, and Economic Policies Book Series, in: Miguel Fuentes D. & Claudio E. Raddatz & Carmen M. Reinhart (ed.),Capital Mobility and Monetary Policy, edition 1, volume 18, chapter 3, pages 69-95, Central Bank of Chile.
    See citations under working paper version above.
  3. Schmitt-Grohé, Stephanie & Uribe, Martín, 2010. "The Optimal Rate of Inflation," Handbook of Monetary Economics, in: Benjamin M. Friedman & Michael Woodford (ed.), Handbook of Monetary Economics, edition 1, volume 3, chapter 13, pages 653-722, Elsevier.
    See citations under working paper version above.
  4. Ryan Chahrour & Stephanie Schmitt-Grohé & Martín Uribe, 2010. "A Model-Based Evaluation of the Debate on the Size of the Tax Multiplier," NBER Chapters, in: Fiscal Policy (Trans-Atlantic Public Economics Seminar, TAPES), pages 28-45, National Bureau of Economic Research, Inc.
    See citations under working paper version above.
  5. Stepahnie Schmitt-Grohé & Martín Uribe, 2007. "Optimal Inflation Stabilization in a Medium-Scale Macroeconomic Model," Central Banking, Analysis, and Economic Policies Book Series, in: Frederic S. Miskin & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.),Monetary Policy under Inflation Targeting, edition 1, volume 11, chapter 5, pages 125-186, Central Bank of Chile.
    See citations under working paper version above.
  6. Stephanie Schmitt-Grohé & Martín Uribe, 2006. "Optimal Fiscal and Monetary Policy in a Medium-Scale Macroeconomic Model," NBER Chapters, in: NBER Macroeconomics Annual 2005, Volume 20, pages 383-462, National Bureau of Economic Research, Inc.
    See citations under working paper version above.Sorry, no citations of chapters recorded.
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