Browsing Working Papers CREI (Centre de Recerca en Economia Internacional) by Subject "Zero lower bound"

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A new approach to measuring economic policy shocks, with an application to conventional and unconventional monetary policy

Inoue, Atsushi; Rossi, Barbara, 1971- (2021-04)

We propose a new approach to analyze economic shocks. Our new procedure identi es economic shocks as exogenous shifts in a function; hence, we call them "functional shocks". We show how to identify such shocks and how to ...
Identifying and estimating the effects of unconventional monetary policy: how to do it and what have we learned?

Rossi, Barbara, 1971- (2020-07-31)

The recent financial crisis led central banks to lower their interest rates in order to stimulate the economy until they hit the zero lower bound. How should one identify monetary policy shocks in unconventional times? ...
The scars of supply shocks

Fornaro, Luca; Wolf, Martin (2021-04)

We study the effects of supply disruptions - for instance caused by the emergence of a pandemic - in an economy with Keynesian unemployment and endogenous productivity growth. By negatively affecting investment, even ...

Now showing items 1-3 of 3

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