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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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  • Fiscal consolidation in a disinflationary environment: price vs. quantity-based measures
    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 ...
  • Policy spillovers and synergies in a monetary union
    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 ...
  • Step away from the zero lower bound : small open economies in a world of secular stagnation
    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 ...
  • The case for flexilbe exchange rates in a great recession
    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 ...
  • The paradox of global thrift
    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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