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Macroprudential Stress Tests: A Reduced-Form Approach to Quantifying Systemic Risk Losses

Author/Editor: Zineddine Alla, Raphael A Espinoza, Qiaoluan H Li, Miguel A Segoviano Basurto.

Release Date:March, 2018

We present a novel approach that incorporates individual entity stress testing and losses from systemic risk effects (SE losses) into macroprudential stress testing. SE losses are more...



Price: $18.00
FX Intervention in the New Keynesian Model

Author/Editor: Zineddine Alla, Raphael A Espinoza, Atish R Ghosh.

Release Date:September, 2017

We develop an open economy New Keynesian Model with foreign exchange intervention in the presence of a financial accelerator mechanism. We obtain closed-form solutions for the optimal more...



Price: $18.00
Unconventional Policy Instruments in the New Keynesian Model

Author/Editor: Zineddine Alla, Raphael A. Espinoza, Atish R. Ghosh.

Release Date:March, 2016

This paper analyzes the use of unconventional policy instruments in New Keynesian setups in which the ‘divine coincidence’ breaks down. The paper discusses the role of a second instrument more...



Price: $18.00