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Browsing ADEMU Working Papers Series by Subject "Zero lower bound"

Browsing ADEMU Working Papers Series by Subject "Zero lower bound"

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  • Pappa, Evi; Sajedi, Rana; Vella, Eugenia (2016-02)
    An important feature of the current economic conditions in the EU, which challenges the design and implementation of macroeconomic policy, is inflation uncertainty. With monetary policy at the zero lower bound, and inflation ...
  • Arce, Óscar; Hurtado, Samuel; Thomas, Carlos (2016-05)
    We provide a general equilibrium framework for analyzing the effects of supply and demand side policies, and the potential synergies between them, in an asymmetric monetary union that faces a liquidity trap and a slow ...
  • Corsetti, Giancarlo; Mavroeidi, Eleonora; Thwaites, Gregory; Wolf, Martin (2018-05)
    We study how small open economies can escape from deation and unemployment in a situation where the world economy is permanently depressed. Building on the framework of Eggertsson et al. (2016), we show that the transition ...
  • Corsetti, Giancarlo; Kuester, Keith (2016-06)
    We analyze macroeconomic stabilization in a small open economy which faces a large recession in the rest of the world. We show analytically that for the economy to remain isolated from the external shock, the exchange rate ...
  • Fornaro, Luca; Romei, Federica (2018-04)
    This paper describes a paradox of global thrift. Consider a world in which interest rates are low and monetary policy cannot stabilize the economy because it is frequently constrained by the zero lower bound. Now imagine ...

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