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1.
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This paper studies the persistent effects of monetary shocks on output. Previous empirical literature documents this persistence, but standard general-equilibrium models [...]
2002 | Text | Staff Working Paper - Document de travail du personnel |
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2.
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Several empirical studies suggest that exchange rate pass-through has declined in recent years in industrialized countries. Results for Canada also indicate that, in the [...]
2005 | Text | Staff Working Paper - Document de travail du personnel |
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In a recent paper, Chang, Gomes, and Schorfheide (2002) extend the standard real business cycle (RBC) model to allow for a learning-by-doing (LBD) mechanism whereby curre[...]
2005 | Text | Staff Working Paper - Document de travail du personnel |
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4.
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This paper develops and estimates a dynamic general-equilibrium sticky-price model that accounts for real exchange rate persistence. The key feature of the model is the d[...]
2002 | Text | Staff Working Paper - Document de travail du personnel |
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This paper assesses analytically the ability of dynamic general-equilibrium sticky-price models to generate persistent real exchange rate fluctuations. It develops a trac[...]
2003 | Text | Staff Working Paper - Document de travail du personnel |
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Recent empirical evidence suggests that private consumption is crowded-in by government spending. This outcome violates existing macroeconomic theory, according to which [...]
2003 | Text | Staff Working Paper - Document de travail du personnel |
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