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Monetary Policy and Exchange Rate Dynamics in a Behavioral Open Economy Model

Author/Editor: Marcin Kolasa, Sahil Ravgotra, Pawel Zabczyk.

Release Date:June, 2022

We develop an extension of the open economy New Keynesian model in which agents are boundedly rational à la Gabaix (2020). Our setup nests rational expectations (RE) as a special case and it can more...



Price: $20.00
A Quantitative Microfounded Model for the Integrated Policy Framework

Author/Editor: Tobias Adrian, Christopher J Erceg, Marcin Kolasa, Jesper Lindé, Pawel Zabczyk.

Release Date:December, 2021

We develop a microfounded New Keynesian model to analyze monetary policy and financial stability issues in open economies with financial fragilities and weakly anchored inflation expectations. We more...



Price: $5.00
Monetary and Macroprudential Policy with Endogenous Risk

Author/Editor: Tobias Adrian, Fernando Duarte, Nellie Liang, Pawel Zabczyk.

Release Date:November, 2020

We extend the New Keynesian (NK) model to include endogenous risk. Lower interest rates not only shift consumption intertemporally but also conditional output risk via their impact on risk-taking, more...



Price: $18.00
A Quantitative Model for the Integrated Policy Framework

Author/Editor: Tobias Adrian, Christopher J Erceg, Jesper Lindé, Pawel Zabczyk, Jianping Zhou.

Release Date:July, 2020

Many central banks have relied on a range of policy tools, including foreign exchange intervention (FXI) and capital flow management tools (CFMs), to mitigate the effects of volatile capital flows on more...



Price: $18.00
A Requiem for the Fiscal Theory of the Price Level

Author/Editor: Roger Farmer, Pawel Zabczyk.

Release Date:October, 2019

The Fiscal Theory of the Price Level (FTPL) is the claim that, in a popular class of theoretical models, the price level is sometimes determined by fiscal policy rather than monetary policy. The more...



Price: $18.00