 | 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...
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| 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...
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| 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...
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