 | Macroeconomic Effects of Sovereign Restructuring in a Monetary Union: A Model-based Approach Author/Editor: Lorenzo Forni, Massimiliano Pisani. Release Date:December, 2013 We assess the macroeconomic effects of a sovereign restructuring in a small economy belonging to a monetary union by simulating a dynamic general equilibrium model. In line with the empirical more...
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| New Shocks and Asset Price Volatility in General Equilibrium Author/Editor: Alessandro Rebucci, Akito Matsumoto, Pietro Cova, Massimiliano Pisani. Release Date:May, 2011 We study equity price volatility in general equilibrium with news shocks about future productivity and monetary policy. As West (1988) shows, in a partial equilibrium present discounted value model, more...
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| Global Imbalances : The Role of Non-Tradabletotal Factor Productivity in Advanced Economies Author/Editor: Alessandro Rebucci, Nicoletta Batini, Pietro Cova, Massimiliano Pisani. Release Date:March, 2009 This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of more...
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| Global Imbalances : The Role of Emerging Asia Author/Editor: Massimiliano Pisani, Pietro Cova, Alessandro Rebucci. Release Date:March, 2009 This paper investigates the role played by emerging Asia in the emergence and evolution of the global trade imbalances. Based on simulations in a general equilibrium model of the world economy, we more...
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| New Shocks, Exchange Rates and Equity Prices Author/Editor: Pietro Cova, Alessandro Rebucci, Akito Matsumoto, Massimiliano Pisani. Release Date:December, 2008 We study exchange rate and equity price dynamics, in general equilibrium, in the presence of news shocks about future productivity and monetary policy. We identify a condition under which these asset more...
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