"Optimal Policy for Macro-Financial Stability." http://people.virginia.edu/~ey2d/BCORYnew.pdf.Benigno, Gianluca, Huigang Chen, Chris Otrok, Alessandro Rebucci, and Eric Young (2012) `Optimal Policy for Macro-Financial Stability.' CEP Discussion Papers dp1172, Centre for Economic Performance, ...
Macro-prudential policy on liquidity: What does a DSGE model tell us? The financial crisis has led to the development of an active debate on the use of macro-prudential instruments for regulating the banking system, in partic... Jagjit,S.,Chadha,... - 《Journal of Economics & Business》...
Monetary Policy and Asset Prices: A Macro-financial Model Based on the Mexican Experience Following Samano (2011), we set a semistruc- tural small open economy neokeynesian model for policy analysis appended by a macroeconometric ...nancial ... BD México,E Morales-Ramos,D Sámanoy 被引量...
The findings indicate that either a capital inflow tax, a financial regulation tax, or a joint financial policy counteracts the adverse effects of financial frictions, leading to greater stability in macroeconomic variables and higher welfare. These financial policies dampen the financial channel faced ...
In this paper we abstract from the potential use of capital controls as macro-prudential policy. In Section 2, we present the basics of the model. In Section 3 we present the planner’s problem and establish our first result on the intra-temporal pattern of optimal trade policy under a ...
We study optimal dynamic Ramsey policies in a standard growth model with financial frictions. For developing countries with low financial wealth, the optimal policy intervention increases labor supply and lowers wages, resulting in higher entrepreneurial profits and faster wealth accumulation. This in turn...
For this purpose we derive four interactive channels between the financial and real sector where two channels are strictly microfounded. We analyze the impact of the different channels on economic stability and derive optimal (simple) monetary policy rules. We find that coefficients of optimal simple...
The Design of Monetary Policy: Money Growth The choice of an optimal inflation rate determines the rate of nominal money growth. The central bank may want to announce a target for nominal money growth, and make it clear how it would deviate from it to address short-run fluctuations...
A Fisherian approach to financial crises: Lessons from the Sudden Stops literature 2020, Review of Economic Dynamics Show abstract Positive and Normative Implications of Liability Dollarization for Sudden Stops Models of Macroprudential Policy 2019, IMF Economic Review Política macroprudencial: Promesas ...
RR policy is complementary to money supply policy for macro stabilization. Abstract China’s central bank frequently adjustsreserve requirementsformacroeconomicstabilization. We evaluate the effectiveness of such policy in a two-sectorDSGE model. A heavy-industry sector—proxied as state-owned enterprises...