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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...
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| Publicado no: | MAGKS - Joint Discussion Paper Series in Economics (Band 34-2022) |
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| Autoren: | , , |
| Formato: | Artigo |
| Idioma: | inglês |
| Publicado em: |
Philipps-Universität Marburg
2022
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| Assuntos: | |
| Acesso em linha: | Texto integral em PDF |
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MAGKS - Joint Discussion Paper Series in Economics