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On the Empirical Relevance of the Exchange Rate as a Shock Absorber at the Zero Lower Bound
The open economy New Keynesian model with flexible exchange rates postulates that the real exchange rate appreciates in response to an asymmetric negative demand shock in a zero lower bound (ZLB) scenario and exacerbates the adverse macroeconomic effects. However, when monetary policy is able to acc...
שמור ב:
| הוצא לאור ב: | MAGKS - Joint Discussion Paper Series in Economics (Band 34-2022) |
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| Autoren: | , , |
| פורמט: | Artikel |
| שפה: | אנגלית |
| יצא לאור: |
Philipps-Universität Marburg
2022
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| נושאים: | |
| גישה מקוונת: | PDF-Volltext |
| תגים: |
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MAGKS - Joint Discussion Paper Series in Economics